💱US Dollar/Canadian Dollar FX Spot Rate
USDCAD
▼ NegativeMonetaryrelevance
Higher oil prices support the Canadian Dollar, strengthening CAD relative to USD.
Impact on assets 1
Others
The Canadian Dollar traded flat against the US Dollar at around 1.4160 during European trading on Monday, supported by higher oil prices. The currency held firm against other major peers as crude oil gains lent strength to the commodity-linked loonie. The pair showed little movement despite the broader firmness in the Canadian Dollar.
Higher oil prices support the Canadian Dollar, strengthening CAD relative to USD.