The USD/CAD currency pair continues its upward momentum, extending gains above the 1.3850 mark. During the Asian trading session on Thursday, the exchange rate hovered around 1.3860, marking the fifth consecutive day of increases. This sustained bullish trend is largely driven by ongoing concerns regarding Canadian oil demand, which have weighed heavily on the Canadian dollar.
As traders monitor the dynamic shifts in oil prices, the implications for the CAD remain significant. A weaker outlook for Canadian oil could bolster the USD further, prompting additional market participants to capitalize on potential gains. With the exchange rate positioning itself above critical technical levels, further fluctuations in this currency pair are anticipated as the market assesses the broader economic landscape.
About FX Killer Trader Incubation Program
Want to become a professional trader? FX Killer offers a completely free professional trader training program. We provide systematic courses, practical training, and professional mentorship to help you grow from beginner to full-time trader.
👉 Join Free Training Program | Trading Psychology Assessment
Data Source: FX Killer Analysis Team Updated: 2026-01-08 04:57
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.