USDCAD Bullish Trend: Key Factors Driving the Growth

USDCAD Bullish Trend: Key Factors Driving the Growth

The USDCAD currency pair continues to develop a bullish trend, with strong potential for further rise. Here are the main reasons behind this bullish movement:

Trump's Proposed Tariffs: President Donald Trump has commented on imposing 25% tariffs starting February 1, which has fueled speculation and market activity.

Decline in Crude Oil Prices: Crude oil prices have been declining amid uncertainty surrounding how Trump's proposed tariffs and energy policies might affect global economic growth and energy demand.

Potential Rate Cut from the Bank of Canada (BOC): There is a possibility of a rate cut from the BOC during the upcoming meeting, provided inflation remains within their target zone.

You may find more details in the chart!
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