💱US Dollar/Canadian Dollar FX Spot Rate
USDCAD
▲ PositiveMonetaryrelevance
Softer Canadian CPI data and rate divergence favor USD over CAD; broad USD strength limits CAD upside.
TD Securities strategists say softer Canadian CPI data is lifting USD/CAD as rate divergence remains a key driver. They argue broad US dollar strength should limit USD/CAD downside below 1.40. Higher oil prices are seen as supportive for the Canadian dollar on crosses but not against the US dollar.
Softer Canadian CPI data and rate divergence favor USD over CAD; broad USD strength limits CAD upside.