- USD/CAD gains at around 1.4315 during the Tuesday tardy American session.
- Fresh tariff fears and lower oil prices pull the Canadian dollar.
- In February, the consumer trust in the US fell to 98.3.
The USD/CAD pair extends the rally to almost 1,4315 during the tardy American session on Tuesday. Canadian dollar (CAD) among the fears that trading tariffs in the USA will be implemented. Investors will take more tips from the recent sales of houses in the USA and FedSpeak later on Wednesday.
US President Donald Trump said on Monday that sweeping American tariffs for imports from Canada and Mexico “will go forward” when a monthly delay in their implementation expires next week. Trump also stated that the US does not need Canadian oil or wood products, statements that runs on a tough wall decades of trade history. Fresh fears about the tariff exert some pressure for sale to the Canadian dollar (CAD) and create a wind for a couple.
In addition, the decrease in crude oil prices undermines Loon associated with goods. It is worth noting that Canada is the largest oil exporter to the United States (USA), and lower oil prices usually have a negative impact on the value of CAD.
On the other hand, consumer trust in the US has most often dropped since August 2021, which prompted traders to raise the rates of the Federal Reserve (FED) this year. This, in turn, can weigh in green against CAD. According to the conference council, consumer trust in the US has dropped to 98.3 compared to 105.3 earlier.
