USD/CAD Continues Upward Trend as US Jobs Data Fuels Hawkish Sentiment
The USD/CAD pair is making strides, trading around 1.4440 during Monday’s European session. This bullish trend continues for the fifth consecutive day. The US Dollar has strengthened significantly following solid labor market data from December, supporting the Federal Reserve’s intention to maintain steady interest rates in the January meeting.
Traders observing the USD/CAD pair should account for ongoing developments in US economic fundamentals as they can substantially impact the currency pair’s trajectory. Understanding these dynamics will be key for effective trading strategies.