The USD/CAD currency pair is trading with modest gains, hovering around the 1.3810 mark during the early European session on Wednesday. This upward movement is primarily influenced by a decline in crude oil prices, which has brought selling pressure to the commodity-linked Canadian Dollar (CAD) against the US Dollar (USD).
As crude oil continues to dip, the CAD's performance remains vulnerable, leading to a stronger exchange rate for the USD. Traders are closely monitoring these developments, as fluctuations in oil prices can significantly impact the CAD's valuation and overall market sentiment.
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Data Source: FX Killer Analysis Team Updated: 2026-01-07 08:30
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.