USD/CAD is trading around 1.3900, reflecting a 0.25% increase on Friday. The rise in the US Dollar has been driven by positive labor data, which has bolstered investor confidence and resulted in a firmer exchange rate. This strength in the USD is contributing to upward pressure on the currency pair.
Conversely, the Canadian Dollar is facing challenges, primarily due to declining oil prices, a critical factor for the CAD. As oil remains a key export for Canada, its weakness is further pressuring the Canadian Dollar, allowing the USD/CAD pair to maintain its momentum. Traders will be closely monitoring future economic data to gauge potential shifts in this dynamic.
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Data Source: FX Killer Analysis Team Updated: 2026-01-09 16:55
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.