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USD/CAD slides to 15-month low as rising Oil prices and BoC outlook lift the Loonie
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USD/CAD slides to 15-month low as rising Oil prices and BoC outlook lift the Loonie
The Canadian Dollar (CAD) extends its gains against the US Dollar (USD) on Thursday, with USD/CAD sliding to its lowest level since October 2024, as the Loonie draws support from rising Oil prices and a steady Bank of Canada (BoC) monetary policy outlook.
USD/CAD Falls Below the 2025 Low - ActionForex
Although there were no surprises and the central banks’ decisions matched analysts’ forecasts, the reaction of the USD/CAD pair was quite dynamic. After a spike in volatility, the exchange rate fell below the 2025 low. Moreover, on higher-timeframe charts, a bearish break of support is visible, with that support running through the lows of 2023–2025.
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