USD/CAD has dipped slightly, trading around 1.4020 during the Asian session on Friday, after previously registering gains. The currency pair remains under pressure, unable to break above the 1.4050 resistance level. This movement is largely influenced by rising oil prices, which bolster the commodity-linked Canadian Dollar (CAD) and provide it with a competitive edge against the US Dollar (USD).
Concerns surrounding recent US economic data continue to weigh on sentiment, contributing to the subdued performance of the USD/CAD exchange rate. As oil prices climb, the CAD gains traction, reflecting its correlation with commodity markets. Traders will be closely monitoring upcoming economic indicators for further insights into the direction of this currency pair.
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Data Source: FX Killer Analysis Team Updated: 2025-11-14 05:19
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.