USD/CAD Inches Higher Amid Oil Price Drop
The USD/CAD pair maintains its sideways movement through the first half of the European session on Wednesday. Current trading occurs around the 1.3835-1.3840 range, showing resilience despite bearish oil prices. Several factors contribute to this consolidation, creating a relatively stable environment for traders. As traders await further US data, keep an eye on how oil prices could influence this pair going forward. The market dynamics of USD/CAD continue to evolve, reflecting the interconnected nature of commodities and currencies.