The USD/CAD currency pair continues its downward trend, currently trading around 1.4010 during European hours on Monday. This decline marks another consecutive session of losses as market sentiment shifts. Traders are increasingly cautious following indications from the Bank of Canada (BoC), which has adopted a more conservative stance amid ongoing economic uncertainties.
Additionally, rising oil prices are exerting further pressure on the exchange rate. As Canada is a significant oil exporter, higher crude prices tend to bolster the Canadian dollar, making the USD weaker in comparison. The current trading level near 1.4000 could serve as a key technical support point, with market participants closely monitoring any developments that might influence the BoC's monetary policy and oil market dynamics.
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Data Source: Yongxianli Analysis Team Updated: 2025-11-10 09:23
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.