The USD/CAD pair trades with mild losses around 1.3885 on Monday during the early European trading hours.
USD/CAD trades with mild negative bias near 1.3885 in Monday’s early European session. Lower crude oil prices might weigh on the Loonie. The BoC Governor Macklem's speech will take center stage on Monday. Nonetheless, the downside seems limited as the fall in crude oil prices could weigh on the commodity-linked Canadian Dollar and create a tailwind for the pair. Traders will focus on Bank of Canada Governor Macklem's speech on Monday for fresh impetus.
As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. How do the decisions of the Bank of Canada impact the Canadian Dollar? The Bank of Canada has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down.
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 slides to fresh weekly low, further below 1.3500 amid an uptick in Oil pricesThe 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.
Read more »
USD/CAD extends gains to near 1.3900 due to lower Oil pricesThe USD/CAD pair continues its winning streak, rising for the fourth consecutive day and trading around 1.3900 during the Asian session on Monday.
Read more »
USD/CAD eyes 1.3800 mark amid bullish USD, weaker Crude Oil pricesThe USD/CAD pair prolongs its uptrend for the ninth straight day and climbs to the 1.3785-1.3790 area, or its highest level since August 7 during the Asian session on Monday.
Read more »
USD/CAD holds steady below 1.3600, bulls await break above 200-day SMA hurdleThe USD/CAD pair oscillates in a narrow range, around the 1.3580 region on the first day of a new week and is currently placed just below a two-week high touched on Friday.
Read more »
USD/CAD flat lines below 1.3650, eyes on FOMC MinutesThe USD/CAD pair trades flat around 1.3645 amid the consolidation of the Greenback during the early Asian session on Wednesday.
Read more »
USD/CAD consolidates below mid-1.3800s, bullish potential seems intactThe USD/CAD pair oscillates in a narrow band around the 1.3830 region during the Asian session on Tuesday and remains well within the striking distance of its highest level since August 6 touched the previous day.
Read more »