The USD/CAD pair struggles to extend its rally above the round-level resistance of 1.3900 in Tuesday’s European session.
USD/CAD strives to climb above 1.3900 as the US Dollar clings to gains. Investors await a slew of US macroeconomic data for fresh interest rate guidance. The Canadian Dollar has been battered by weak Oil prices. The rally in the Loonie pair appears to have paused for a while, with investors focusing on a string of the United States economic data to be released this week.
USD/CAD daily chart Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar are the level of interest rates set by the Bank of Canada , the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports.
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