The USD/CAD currency pair continues to face downward pressure, maintaining a trading range below the pivotal 1.3900 level. As of Tuesday's Asian session, the exchange rate hovers around 1.3870, marking the second consecutive day of losses for the pair.
The Canadian Dollar's strength is primarily attributed to rising oil prices, which bolster the nation's economy given its status as a major oil exporter. As market participants keep a close eye on commodity prices, the upward momentum in oil could continue to support the CAD against the USD, influencing future trading sessions and potentially shifting the exchange rate dynamics further.
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Data Source: FX Killer Analysis Team Updated: 2026-01-13 03:17
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.