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January 6, 2025

USD/CAD Retreats as Oil Prices Strengthen

The USD/CAD currency pair has seen its four-day winning streak end, trading around 1.4400 during the Asian session on Monday. This shift can be attributed to the Canadian Dollar’s strength resulting from improved Oil prices. As Canada’s largest crude exporter, these developments will likely influence trading strategies moving forward. Investors should remain alert to how fluctuations in oil prices may impact the currency pair. Understanding the link between oil markets and currency valuations can enhance traders’ decision-making processes.

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