The USD/CAD currency pair continues to drift lower after a recent uptick in the Asian session. Following a peak at around 1.4275-1.4280, the pair seems to have ended a two-day winning streak. Currently, spot prices are trading around the 1.4245-1.4240 level, reflecting a nearly 0.15% decline for the day. The decrease comes amidst fresh selling pressure on the US Dollar coupled with rising oil prices.

This scenario sheds light on the delicate balance in the forex market where commodity prices can significantly sway currency pairs. Traders should remain vigilant as oil price fluctuations could continue to impact the USD/CAD relationship. This watchpoint is crucial for anticipating future movements in this currency pair, highlighting the interaction between energy prices and forex trading.