The Canadian Dollar (CAD) remained largely unchanged as a slight decline in oil prices weighed on the currency's performance. Despite initial market optimism, broader geopolitical tensions continue to pose risks to the CAD. With oil, a key export for Canada, under pressure, the CAD/USD pair faced resistance, stalling any significant movement.
While traders temporarily shift focus to fundamental data, Scotiabank’s Chief FX Strategists, Shaun Osborne and Eric Theoret, caution that ongoing global risks will likely limit any substantial CAD gains. The currency’s resilience will depend on the balance between oil price fluctuations and market sentiment, with any further geopolitical developments posing additional challenges for the CAD.
About FX Killer Trader Incubation Program
Want to become a professional trader? FX Killer offers a completely free professional trader training program. We provide systematic courses, practical training, and professional mentorship to help you grow from beginner to full-time trader.
👉 Join Free Training Program | Trading Psychology Assessment
Data Source: FX Killer Analysis Team Updated: 2026-01-22 17:28
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.