Canadian Dollar Weakens Amid Venezuelan Oil Concerns
The Canadian dollar has declined for six consecutive trading days, reaching 1.3790 per USD. This trend is driven by fears that increased Venezuelan oil flows to the U.S. could weaken Canada's position in the upcoming CUSMA trade review.
Insights:
The Canadian dollar continued its downward trajectory for the sixth straight trading day, slipping 0.2% to 1.3790 per USD on January 6, 2026. The loonie, which traded between 1.3752 and 1.3796 during the day, has been under pressure since December 29, 2025, as market participants grow increasingly concerned about Canada's negotiating leverage in the upcoming 2026 Canada-United States-Mexico Agreement (CUSMA) review.
