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fxJul 3, 2026, 1:46 AM

Canadian Dollar Weakens as Oil Prices Slide, USD/CAD Rises

USD/CAD edged higher to around 1.4190 during Asian trading on Friday, supported by declining crude oil prices and mixed U.S. economic data.

USDCAD

The Canadian dollar came under pressure during Asian hours on Friday, pushing USD/CAD higher to the 1.4190 area. The move follows modest losses in the pair the previous day, as a decline in crude oil prices weighed on the commodity-linked loonie.

At the same time, softer-than-expected economic data from the United States provided a counterbalance, preventing a sharper upside for the greenback. Traders are now watching for further cues from oil markets and upcoming U.S. releases.

Source: FXStreet Forex News