The USD/CAD pair is currently targeting the 1.3800 mark as the US dollar gains strength and Crude Oil prices weaken. This combination of factors has created a bullish outlook for the USD/CAD pair.
The US dollar has been performing well against major currencies, including the Canadian dollar. This strength in the US dollar has been fueled by positive economic data and expectations of higher interest rates in the US.
On the other hand, Crude Oil prices have been under pressure due to concerns about oversupply and weakening demand. This has put downward pressure on the Canadian dollar, which is often influenced by movements in oil prices.
As a result, the USD/CAD pair is likely to continue its upward momentum towards the 1.3800 mark. Traders will be keeping a close eye on economic data releases and any developments in the oil market that could impact the direction of the pair.
Overall, the outlook for the USD/CAD pair remains bullish, with the potential for further gains as long as the US dollar continues to strengthen and Crude Oil prices remain under pressure.