USD/CAD continues to lose ground for the third successive day, trading around 1.3500 during the Asian session on Friday.
USD/CAD loses ground due to dovish comments from the Fed officials. Fed’s Austan Goolsbee said that the longer-run trend of the labor market and inflation data justify the Fed easing soon. The upside of the commodity-linked Canadian Dollar could be restrained due to lower Oil prices. Traders are likely to await Friday's release of employment data from the United States and Canada .
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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