USD/CAD Outlook: Oil’s Plunge Leaves Canadian Dollar Feeble

<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" decoding="async" style="margin-bottom: 15px;" 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>Oil was on course for its fourth consecutive week of declines. US unemployment benefit claims rose to 231,000, exceeding the expected 220,000. US industrial production declined by 0.6% in October. The USD/CAD outlook shines as the Canadian dollar softens amid lower oil prices, with the pair rising despite dollar weakness. On Friday, oil prices showed…</p>
<p>The post <a rel="nofollow" href="https://www.forexcrunch.com/usd-cad-outlook-oils-plunge-leaves-canadian-dollar-feeble/">USD/CAD Outlook: Oil&#8217;s Plunge Leaves Canadian Dollar Feeble</a> appeared first on <a rel="nofollow" href="https://www.forexcrunch.com">Forex Crunch</a>.</p>