The Canadian Dollar (CAD) swooned on Tuesday, dipping closer toward the 1.4200 handle against the Greenback before meagerly recovering its stance on the day.
The Canadian Dollar took another hit on Tuesday, testing the 1.4200 handle. The Bank of Canada is poised to accelerate its pace of rate cuts. A widening differential and soggy data outlook keeps the Loonie pinned on the low end. The Canadian Dollar swooned on Tuesday, dipping closer toward the 1.4200 handle against the Greenback before meagerly recovering its stance on the day.
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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