USD/CAD DROPS ON US DOLLAR STRENGTH, AMIDST FALLING OIL PRICES

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  • The USD/CAD slid on market sentiment and high oil prices.
  • An offered US Dollar would keep the USD/CAD under heavy stress, as the USD/CAD eyes 1.3500.
  • USD/CAD Price Analysis: Would continue headed downwards unless buyers conquer 1.3600.

The Canadian Dollar (CAD) extended its gains against the US Dollar (USD) for three straight days, spurred by a risk-on impulse and overall US Dollar weakness. The buck is pressured on expectations for a less hawkish US Federal Reserve (Fed). The USD/CAD is trading at 1.3569 after printing a high of 1.3616.

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