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fxJul 22, 2026, 3:40 PM

USD/CAD Edges Lower as Softer USD and Rising Oil Prices Support Canadian Dollar

USD/CAD fell on Wednesday as a mildly softer US Dollar and higher crude prices helped the Canadian Dollar snap a two-day losing streak. The pair traded around 1.4085, down 0.16% on the day.

USDCAD

The Canadian Dollar found support from a combination of a softer US Dollar and rising oil prices on Wednesday, snapping a two-day losing streak. At the time of writing, USD/CAD was trading near 1.4085, down 0.16% on the day.

The move lower in the pair reflects a mild weakening of the Greenback alongside gains in crude oil, which tends to benefit the commodity-linked Canadian Dollar. The decline follows two consecutive sessions of gains for the exchange rate.

Source: FXStreet Forex News