USD/CAD Outlook: Middle East Tensions Lift Oil Price, Loonie

<div><img width="400" height="267" src="https://www.forexcrunch.com/wp-content/uploads/2021/08/USD_CAD_Loonie_Flags.jpg" class="type:primaryImage wp-post-image" alt="my USD/CAD forecast" style="margin-bottom: 15px;" decoding="async" fetchpriority="high" srcset="https://www.forexcrunch.com/wp-content/uploads/2021/08/USD_CAD_Loonie_Flags.jpg 400w, https://www.forexcrunch.com/wp-content/uploads/2021/08/USD_CAD_Loonie_Flags-300×200.jpg 300w, https://www.forexcrunch.com/wp-content/uploads/2021/08/USD_CAD_Loonie_Flags-150×100.jpg 150w" sizes="(max-width: 400px) 100vw, 400px" /></div>
<p>The Canadian dollar benefited from higher oil prices. USD/CAD recorded a weekly rise due to the Bank of Canada’s recent shift in guidance The Fed will announce its interest rate decision on Wednesday. Monday saw a bearish turn in the USD/CAD outlook, driven by the surge in oil prices triggered by a drone strike on…</p>
<p>The post <a href="https://www.forexcrunch.com/blog/2024/01/29/usd-cad-outlook-middle-east-tensions-lift-oil-price-loonie/">USD/CAD Outlook: Middle East Tensions Lift Oil Price, Loonie</a> appeared first on <a href="https://www.forexcrunch.com">Forex Crunch</a>.</p>