Canadian dollar weakens slightly against USD, influenced by oil prices and economic forecasts.

The Canadian dollar (CAD) weakened slightly against the U.S. dollar (USD) on the first trading day of 2025 but held up better than other major currencies. The CAD's performance was supported by rising oil prices and positive Canadian manufacturing data, though it remains under pressure due to expectations of stronger U.S. economic growth and the potential for U.S. tariffs on Canadian goods. The USD/CAD pair is trading near 1.44, with the CAD facing challenges from higher USD strength and domestic political uncertainty.

2 months ago
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