The USD/CAD pair extends the previous day's retracement slide from the 1.3535-1.3540 region, or a one-week high and remains under some selling pressure for the second straight day on Wednesday.
USD/CAD attracts sellers for the second straight day, though the downside seems limited. Oil prices rise amid Middle East tensions and underpin the Loonie, weighing on the major. Reduced bets for a 50 bps Fed rate cut in November lend support to the USD and the pair. The USD/CAD pair extends the previous day's retracement slide from the 1.3535-1.3540 region, or a one-week high and remains under some selling pressure for the second straight day on Wednesday.
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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD rises to near 1.3500 due to lower crude Oil pricesUSD/CAD retraces its recent losses, trading around 1.3500 during the Asian session on Monday.
Read more »
USD/CAD trades with modest losses around mid-1.3500s amid rebounding Oil pricesThe USD/CAD pair struggles to capitalize on Friday's strong intraday rally of over 100 pips and trades with a mild negative bias around mid-1.3500s during the Asian session on Monday.
Read more »
USD/CAD stalls below 1.3600 due to rising oil pricesThe USD/CAD was virtually unchanged during the North American session and traded at around 1.3560 as buyers failed to crack the strong resistance seen at the 200-day moving average (DMA) at 1.3588.
Read more »
USD/CAD slides below 1.3600 amid rebounding Oil prices, weaker USD ahead of US CPIThe USD/CAD pair struggles to capitalize on the overnight breakout momentum through the very important 200-day Simple Moving Average (SMA) and retreats from a nearly three-week top, around the 1.3615 area touched earlier this Wednesday.
Read more »
USD/CAD drifts lower amid sustained USD selling, sliding Oil prices could lend supportThe USD/CAD pair struggles to capitalize on its modest gains registered over the past two days and attracts fresh sellers during the Asian session on Monday.
Read more »
USD/CAD remains depressed near 1.3470-1.3465 area, weaker Oil prices to limit lossesThe USD/CAD pair meets with some supply during the Asian session on Thursday and erodes a part of the overnight recovery gains from the 1.3420 region, or its lowest level since March 8.
Read more »