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USD/CAD Rises to Two-Month High as Oil Prices Slide and Fed Hike Expectations Grow

Guavy AI Editorial Team
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The USD/CAD pair has extended its upward momentum for an eighth consecutive day, trading near 1.4200 and reaching a two-month high.

This surge is largely driven by a stronger US dollar, which has been bolstered by expectations of further monetary tightening from the Federal Reserve.

The Canadian dollar, on the other hand, has come under pressure due to falling international oil prices and a slowdown in Canada's economic growth.

Crude oil market indicators suggest that supplies are gradually returning to normal, with Middle Eastern exports rebounding to around 98% of previous levels.

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