USDCAD Consolidates As Canada Building Permits Fall, Oil Gains – FX Leaders

The USDCAD pair is currently consolidating as building permits in Canada have fallen and oil prices are on the rise. This has led to a period of stability in the currency pair’s exchange rate. The decrease in building permits indicates a potential slowdown in the construction sector in Canada, which could have an impact on the country’s economy. On the other hand, the increase in oil prices is likely to benefit the Canadian economy, as Canada is a major oil exporter. Overall, these factors have contributed to the USDCAD pair holding steady in recent trading sessions.