The Canadian Dollar (CAD) struggled to find direction on Monday, easing against most of its major currency peers and middling against the Greenback on the charts.
The Canadian Dollar was soft-footed to kick off Monday trading. Canada is drastically underrepresented on the economic calendar this week. US inflation data updates are the key to the week’s market sentiment. The Canadian Dollar struggled to find direction on Monday, easing against most of its major currency peers and middling against the Greenback on the charts.
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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