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fxJul 27, 2026, 10:44 AM

Canadian Dollar Extends Losses vs US Dollar as Oil Prices Slide

The Canadian dollar continued to decline against the greenback on Monday, pressured by falling crude oil prices, even as the safe-haven US dollar showed broad weakness.

USDCADWTI

The Canadian dollar extended its decline against the US dollar for a second consecutive session, as slumping oil prices continued to weigh on the commodity-linked currency. Despite a broader pullback in the greenback, the loonie failed to capitalize, underscoring its sensitivity to crude markets.

The US dollar weakened across the board, but the CAD remained under pressure, reflecting the outsized impact of energy market moves on Canada’s export-dependent economy.

Lower oil prices eroded support for the CAD, with West Texas Intermediate crude trading near recent lows, further dampening the currency's appeal.

Source: FXStreet Forex News