{
  "id": 6304047,
  "title": "Canadian Dollar trims gains as risk aversion supports US Dollar despite higher Oil prices",
  "url": "https://urgent.news/2026/09/08/canadian-dollar-trims-gains-as-risk-aversion-supports-us-dollar",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-08T16:32:51.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/canadian-dollar-trims-gains-as-risk-aversion-supports-us-dollar-despite-higher-oil-prices-202609081632"
  },
  "original_language": "en",
  "account": "The Canadian Dollar experienced a slight decline on Tuesday as risk aversion due to escalating tensions in the Middle East bolstered the US Dollar, despite higher Oil prices. The Loonie managed to maintain some of its gains against the US Dollar, but the uncertainty surrounding potential solutions to the conflict dampened its upward momentum. Concerns were heightened after Iranian authorities warned of targeting energy infrastructure in the Gulf, including US interests, in response to further attacks. Concurrently, Qatari authorities urged for the reopening of the strategic Strait of Hormuz to avert an \"industrial catastrophe.\" These geopolitical tensions have increased investor caution and increased demand for safe-haven assets, providing some support to the US Dollar. The ongoing conflict between the US and Iran, which has lasted six months, has also helped to elevate Oil prices. Higher Oil prices provide a boost to the Canadian Dollar, as Crude Oil is a significant export for Canada, helping to curb the upside in USD/CAD. The Foreign Exchange markets remain relatively subdued as investors anticipate the release of the US Consumer Price Index (CPI) on Friday, which could shed light on the Federal Reserve's monetary policy stance and influence the US Dollar's direction. In the one-hour chart, USD/CAD was trading at 1.3790, exhibiting a bearish short-term outlook as it traded below the downward trendline resistance at 1.3805 and a cluster of moving averages. The 100-period simple moving average (SMA) and the 200-period SMA both stood above the current price, indicating that rallies are currently limited. Meanwhile, the Relative Strength Index (RSI) around 42 suggested subdued upside momentum, pointing to a corrective pullback instead of a sustained recovery. The immediate resistance lay at the downtrend line at 1.3805, followed by a horizontal barrier at 1.3815 and the 100-period SMA near 1.3816. If prices were to climb further, the 200-period SMA around 1.3848 would act as a stronger cap. Conversely, the first key support was at the horizontal level of 1.3760, where a break would expose additional downside and reinforce the prevailing bearish bias on this timeframe.",
  "summary": "USD/CAD rebounds on Tuesday after hitting an intraday low of 1.3760 and trades around 1.3790 at the time of writing, down 0.18% on the day.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Canadian Dollar eases from highs as risk aversion buoys the US Dollar",
        "url": "https://urgent.news/2026/09/08/canadian-dollar-eases-from-highs-as-risk-aversion-buoys-the-us-dollar",
        "published": "2026-09-08T11:53:29.000Z"
      }
    ]
  },
  "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."
}