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Canadian dollar edges lower as risk aversion lifts US dollar

FXStreet said USD/CAD traded around 1.4260, moving back toward an 18-month high near 1.4293 as oil prices rose and global bonds sold off.

Reported · Written up by our desk · Major Pairs

The Canadian dollar held marginal losses on Thursday as a risk-averse mood favored the US dollar, according to FXStreet.

FXStreet reported USD/CAD was around 1.4260 after rebounding from levels near 1.4200, bringing the pair closer to an 18-month high near 1.4293.

The outlet linked limited support for the Canadian dollar to a rise in crude that was not enough to offset broader market stress, with Brent up about 3.5% on the day to trade above $103.0.

FXStreet also pointed to Middle East tensions, including fresh attacks by the Houthi militias on Saudi Arabian airports, and noted that minutes from September’s Federal Reserve meeting showed inflation remained a key concern among committee members, though the dollar reaction was described as minimal.

Latest closeWTI crude $91.10 ▲3.2%|Brent $103.93 ▲3.7%

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