The USD/CAD currency pair is showing resilience, trading near 1.3770 in the early European session on Monday. This strength comes as the US Dollar gains momentum ahead of the upcoming ISM Manufacturing PMI report, which could impact market sentiment and trading strategies in the forex arena.
However, rising crude oil prices, spurred by the recent capture of Venezuelan President Nicolas Maduro, may bolster the Canadian Dollar. As the commodity-linked Loonie reacts to these developments, traders will closely monitor the exchange rate, especially if oil prices continue to climb, potentially challenging the USD's current dominance against CAD.
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Data Source: FX Killer Analysis Team Updated: 2026-01-05 07:50
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.