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fxAug 5, 2026, 4:22 AM

Canadian Dollar Lingers Near One-Week Low Amid Oil Weakness, USD Dip

The Canadian dollar remains under pressure, trading close to a one-week low against the greenback as sliding oil prices offset a softer US dollar.

USDCAD

The Canadian dollar is hovering near a one-week low against its US counterpart, with USD/CAD trading around the 1.4070 mark.

The pair has risen for four straight days, even as the broader US dollar edged lower. Falling crude oil prices, a traditional headwind for the commodity-linked loonie, are outweighing the greenback’s dip and keeping the exchange rate near the prior day’s nearly one-week high.

Traders are watching for further moves in oil and any shift in US dollar sentiment as the week progresses.

Source: FXStreet Forex News