The USD/CAD currency pair has rebounded toward the 1.3700 level, gaining approximately 0.20% on Monday and ending a four-day losing streak. This recovery in the exchange rate is largely driven by a strengthening US Dollar, as traders react to recent economic data and market sentiment.
Meanwhile, the Canadian Dollar has faced pressure as support from falling oil prices diminishes. As oil is a key driver of the Canadian economy, the weakening in this sector has contributed to the currency's decline, allowing the USD/CAD pair to regain traction in the forex market. Traders will be closely monitoring these developments as they shape future trading strategies.
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Data Source: FX Killer Analysis Team Updated: 2025-12-29 13:36
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.