Canadian Dollar Weakens Against US Dollar as Bond Yields and Oil Prices Fall
The Canadian dollar weakened against the US dollar amid falling Canadian 10-year bond yields and declining US crude oil prices, pressuring USDCAD lower to around 1.3687.
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The Canadian dollar weakened against the US dollar amid falling Canadian 10-year bond yields and declining US crude oil prices, pressuring USDCAD lower to around 1.3687.
USDCAD weakened amid rising Canadian unemployment and geopolitical risks from Venezuela impacting oil exports, while U.S. employment data boosted the USD and dampened expectations of a Fed rate cut.