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Forex

Canadian Dollar Holds Firm vs US Dollar Ahead of Jobs Data

Guavy AI Editorial Team
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USD CAD
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The Canadian dollar has held firm against the US dollar as investors await key jobs data from both countries. The USD/CAD pair is consolidating below the 1.3800 mark, near a two-week low touched on Thursday.

Crude oil prices remain high due to ongoing US-Iran tensions over the Strait of Hormuz, which has contributed to the Canadian dollar's strength against the greenback.

The Bank of Canada's hawkish message in September may continue to support the commodity-linked loonie and validate a negative outlook for the USD/CAD pair.

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