The USD/CAD pair struggles to capitalize on its weekly gains registered over the past three days and attracts some sellers during the first half of the European session on Thursday.
USD/CAD edges lower on Thursday and snaps a three-day winning streak amid a softer USD. Rebounding US bond yields lend support to the USD and the pair ahead of the OPEC + meeting. Traders look to US Jobless Claims, though the focus remains on monthly jobs data on Friday. Spot prices slide closer to mid-1.4000s in the last hour, though any meaningful downfall still seems elusive ahead of the crucial monthly employment details from the US and Canada on Friday.
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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