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fxSep 10, 2026, 1:53 AM

USD/CAD consolidates above 1.3800 as oil gains offset dollar uptick

USD/CAD is holding just above 1.3800 in Asian trading as stronger oil prices offset a firmer US dollar, with traders waiting for US inflation data before taking fresh positions.

USDCAD

USD/CAD is trading just above the 1.3800 level during the Asian session on Thursday, struggling to build on the previous day’s modest gains. The pair is consolidating as higher oil prices help support the Canadian dollar against US dollar strength.

Traders appear hesitant to place fresh directional bets ahead of US inflation figures. The next key release on that front is the US producer price index (PPI), which is keeping the market in a wait-and-see mode.

Source: FXStreet Forex News