The USD/CAD pair continues to climb, trading near 1.4110 during Tuesday’s Asian session, marking levels last seen in April 2020.
USD/CAD rose more than 1% to 1.4178, a level not seen since April 2020. The risk-sensitive CAD’s downside is fueled by dampened market sentiment. President-elect Donald Trump announced plans to impose a 25% tariff on imports from Canada . The pair has surged over 1%, fueled by weakened market sentiment after President-elect Donald Trump announced plans to impose a 25% tariff on imports from Mexico and Canada , along with a 10% hike in tariffs on all Chinese goods entering the United States .
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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