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fxJun 25, 2026, 2:29 PM

Canadian Dollar Gains on Oil Rebound, USD Slips After PCE Data

USD/CAD fell to 1.4205, down 0.21% on the day, as the Canadian dollar recovered on higher oil prices and a softer US dollar following PCE data.

USDCAD

The Canadian dollar strengthened against its US counterpart on Thursday, with USD/CAD trading around 1.4205, down 0.21% on the day. The pair had recently touched its highest level in 14 years before retreating.

The move came as oil prices rebounded, providing support for the commodity-linked loonie. Meanwhile, the US dollar eased after the release of PCE inflation data, which tempered expectations for further Federal Reserve tightening.

Traders will continue to monitor oil market dynamics and upcoming US economic releases for further direction in the pair.

Source: FXStreet Forex News