The Canadian Dollar (CAD) remained under pressure against the US Dollar (USD) on Monday, trading near seven-month lows as it struggled to gain upward momentum. The currency pair hovered around an exchange rate of 1.37, reflecting ongoing concerns over weak crude oil prices, a significant driver of the CAD's performance.
Market participants are also bracing for key economic data releases, which could further influence trading dynamics. With the CAD showing limited strength, the outlook remains cautious, as investors weigh the implications of fluctuating oil prices and upcoming economic indicators on the Canadian economy. This defensiveness in the CAD suggests continued volatility ahead as traders navigate both local and global economic landscapes.
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Data Source: FX Killer Analysis Team Updated: 2025-11-24 22:41
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.