USD/CAD Remains Resilient Above 12-Week Low Amid Ongoing Weakness
USD/CAD steadied above its 3-month low near 1.3370 last week despite a second consecutive weekly decline. Gains in crude oil prices and resilient Canadian economic data supported CAD strength, while a softer U.S. Dollar, influenced by expectations of Fed rate cuts in 2024, weighed on the pair. Market focus remains on diverging central bank policies and upcoming economic reports as USD/CAD consolidates near key technical levels heading into the new year.
