USD/CAD Exchange Rate Hits Near 1.3700 Mark as Oil Prices Drop

Tuesday, 16 July 2024, 08:22
The USD/CAD exchange rate has been on an upward trend, reaching close to 1.3700 amidst falling oil prices. This marks the fourth consecutive session of gains for the currency pair. The movement is particularly notable during the European trading hours on Tuesday. Investors are closely monitoring the impact of oil price fluctuations on the USD/CAD exchange rate.
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USD/CAD Exchange Rate Hits Near 1.3700 Mark as Oil Prices Drop

USD/CAD Exchange Rate Climbs

The USD/CAD exchange rate has experienced a consistent increase in value.

Oil Prices Decline

The rise in the USD/CAD exchange rate is influenced by the drop in oil prices.

  1. This marks the fourth straight session of gains for USD/CAD.
  2. The exchange rate is currently hovering around 1.3690 during European trading hours on Tuesday.

Investors are carefully observing the relationship between oil price movements and the USD/CAD exchange rate.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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