The USD/CAD pair ticks higher during the Asian session on Thursday and moves away from over a two-week low, around the 1.4270 region touched the previous day.
USD/CAD attracts some buyers on Thursday amid a modest USD uptick. Spot prices, however, lack traction, warranting caution for bullish traders. Bears need to wait for a break below 1.4260 before placing fresh bets. Spot prices currently trade around the 1.4345 area, up over 0.20% for the day, though the uptick lacks bullish conviction. The US Dollar attracts some buyers and for now, seems to have snapped a three-day losing streak to its lowest level in over a week.
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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