CAD Market Update
13 Mar 2026 • 00:22 GMT
The Canadian dollar remains close to its recent average against the US dollar, trading at around 0.7335, just slightly above its three-month average of 0.7295. Over the past few weeks, CAD has been quite stable within a narrow range, supported by rising oil prices and ongoing geopolitical tensions.
Oil prices have helped boost Canada's energy sector, giving the Loonie some short-term strength. However, the US dollar remains generally supported due to ongoing geopolitical risks, especially in the Middle East, which keep investors cautious and favor safe-haven assets like USD. This backdrop could limit any sharp moves higher in CAD against the dollar.
While the Canadian dollar has seen some strength against EUR, GBP, and JPY, it remains sensitive to oil market fluctuations. Technical levels suggest support around 0.7360, but if oil prices soften or geopolitical tensions ease, CAD could see some minor weakness.
Traders should keep an eye on oil price trends and geopolitical developments, as these are likely to be the main drivers influencing CAD in the near term.
📊 Quick forecast view
Near-term bias: 🔴 Mild downside
Expected range: 0.7190 – 0.7400
Dominant driver: 🌍 Global risk sentiment
3-month trend: ⚪ Range-bound
