The USD/CAD currency pair is trading flat around the 1.3900 level on Friday, showing little movement throughout the day. This stability is largely attributed to a strengthening Canadian Dollar (CAD), which has gained traction from a rebound in oil prices. As oil is a significant export for Canada, the rise in crude prices has bolstered the CAD against its US counterpart.
Meanwhile, the US Dollar (USD) remains resilient due to robust economic data emerging from the United States. This firm performance underscores the ongoing strength of the USD, creating a balancing effect in the exchange rate with the CAD. As traders monitor these dynamics, the interplay between oil prices and US economic indicators will likely continue to shape the trading landscape for the USD/CAD pair in the near term.
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Data Source: FX Killer Analysis Team Updated: 2026-01-16 14:23
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.