Forex
CAD Struggles as Oil Prices Slide, Iran Conflict Sparks Price Hike Fears
The Canadian Dollar continues to struggle as oil prices decline, causing USD/CAD to appreciate. The pair has extended its gains for three consecutive days and is currently trading around 1.3840 during Asian hours on Friday.
Crude oil prices may rebound due to the escalating conflict between the US and Iran, which has fueled concerns over prolonged disruptions to global energy supplies.
US officials have reportedly warned President Donald Trump that the war could continue through the remainder of his term in January 2029. Iranian leaders are determined to continue fighting despite mounting economic costs, viewing the conflict as an existential threat.