The commodity-linked CAD strengthens for a fourth day amid rising crude oil prices, pressuring the USD/CAD pair.
The USD/CAD pair declined to 1.3870 during European trading on Tuesday, marking its fourth consecutive day of losses. The Canadian Dollar gained support from firmer crude oil prices, a key export for Canada, bolstering the currency’s performance against the USD.
Prior sessions saw the pair stabilize near 1.3900, but sustained oil price strength shifted momentum in favor of the CAD. The correlation between oil and the Canadian Dollar remains a critical driver for the currency pair.
No immediate market reaction was specified, though the trend reflects broader commodity-linked currency movements.