Canadian Dollar Near April Low on Weak Retail Sales, Lower Oil
The Canadian Dollar weakened against the US Dollar, trading near its April 2025 low, as disappointing Retail Sales data and declining oil prices weighed on the currency. USD/CAD rose to around 1.4170.
The Canadian Dollar continues to struggle, hovering near its lowest level since April 2025 against the US Dollar. Weaker-than-expected Canadian Retail Sales data released on Friday added fresh pressure, compounding headwinds from falling oil prices.
Despite a modest pullback in the US Dollar, USD/CAD traded on the front foot, reaching approximately 1.4170 — its strongest point since April. The pair's gains reflect the relative underperformance of the loonie amid a deteriorating economic outlook and lower crude prices, which traditionally hurt Canada's commodity-linked currency.
Traders are now watching for further catalysts that could extend the move or trigger a corrective bounce, but near-term sentiment remains tilted against the Canadian Dollar.
Source: FXStreet Forex News