The USD/CAD currency pair is currently trading flat above the mid-1.3700s as softer oil prices have mitigated recent USD selling pressure. Following a brief rally that peaked at 1.3815, the exchange rate has begun to retreat, reflecting a continuation of the previous day's late-session decline. This marks the highest level for the pair since December 11.
As traders keep a close eye on oil market dynamics, the fluctuations in crude prices are significantly influencing the CAD's performance against the USD. With oil prices under pressure, the Canadian dollar's strength is limited, resulting in a cautious trading environment for the USD/CAD pair. Market participants will be monitoring upcoming economic indicators that could provide further insight into the direction of this exchange rate.
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Data Source: FX Killer Analysis Team Updated: 2026-01-06 08:57
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.