{
  "id": 2921013,
  "title": "Canadian Dollar bears seem hesitant as weak USD counters US-Canada trade war",
  "url": "https://urgent.news/2026/08/24/canadian-dollar-bears-seem-hesitant-as-weak-usd-counters-us-canada",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T02:03:55.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/canadian-dollar-bears-seem-hesitant-as-weak-usd-counters-us-canada-trade-war-202608240203"
  },
  "original_language": "en",
  "account": "The USD/CAD currency pair faces hesitation despite a weak US dollar and concerns over a deepening US-Canada trade war. The pair currently trades just below the 1.3800 mark, marking a three-month low and ending a three-day losing streak. Following the imposition of 50% tariffs by the US on $20 billion worth of Canadian goods, Canada's response includes retaliatory tariffs beginning September 8. This, combined with a slight decline in crude oil prices, negatively impacts the commodity-linked Loonie and supports the USD/CAD pair. Meanwhile, the US Dollar hovers near its lowest level in over three months, due to decreasing chances of a rate hike by the US Federal Reserve. Additionally, the US Treasury announced a doubling of buyback operations for long-dated government debt starting September, which adds pressure on US bond yields. This further weakens the USD and caps the USD/CAD pair. Geopolitical tensions are also at play, with US Treasury Secretary Scott Bessent announcing sanctions against Iran, potentially acting as a tailwind for crude oil prices and the USD. Technical analysis indicates a bearish near-term bias for the USD/CAD pair, with the 200-day Simple Moving Average at 1.3844 acting as a significant hurdle. A sustained strength may lift prices to the 50% retracement level at 1.3897, while a downward trend could reach the 78.6% retracement at 1.3698, followed by the prior swing low around 1.3549.",
  "summary": "The USD/CAD pair struggles to capitalize on a bullish gap opening on Monday, though it retains an intraday positive bias amid concerns about a deepening US-Canada trade war.",
  "key_points": [
    "USD/CAD pair hovers near three-month low at 1.3800",
    "US dollar near three-month low due to lower rate hike chances",
    "Canada's retaliatory tariffs begin September 8 amid trade war"
  ],
  "editors_take": "Weak US dollar and looming US-Canada trade tensions create uncertainty, but cap USD/CAD gains, as bearish near-term bias and technical hurdles limit the pair's upward movement.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}