USD/CAD could halt losing streak amid a stronger Greenback, clings to 1.3540

Fuel suppliers in Baltimore are expected to encounter delays following the collapse of the Francis Scott Key Bridge.

USD/CAD holds its position after recovering daily losses on Friday. US Dollar strengthens on hawkish sentiment surrounding the Fed maintaining higher policy rates. Canadian Dollar received upward support from the higher WTI price. USD/CAD hovers around 1.3540 during the Asian hours on Friday, showing signs of potentially ending its four-day losing streak. However, trading volumes are expected to be light due to Good Friday.

The Canadian Dollar received a boost due to increased prospects of foreign currency inflows, fueled by the uptick in West Texas Intermediate oil prices. The rise in Crude oil prices is linked to expectations that the Organization of the Petroleum Exporting Countries and its allies will continue their production cuts. Canada's Gross Domestic Product expanded by 0.6% in January, surpassing the projected 0.4% increase.

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