A 3.35% decline in WTI Oil to $81.75 and weaker US consumer confidence offset CAD and USD support factors.
USD/CAD trades at 1.3835, down 0.07% as both currencies face pressure. The Canadian Dollar weakens after WTI Oil falls 3.35% to $81.75, easing geopolitical supply concerns but hurting Canada’s export-driven economy.
The US Dollar Index dips 0.05% to 98.95, despite mixed economic signals. US consumer confidence drops to 89.4 in August from 90.2 in July, marking a second straight monthly decline and limiting Greenback demand.
Market sentiment remains risk-friendly, capping further USD gains despite the data. The pair shows no clear trend as opposing forces balance near-term moves.