USD/CAD Price Forecast: Eyes further losses as Hormuz risks support Oil prices and USD

The USD/CAD pair is prolonging its recent corrective decline from the year-to-date high, reached in March, and drifting lower for the fourth consecutive day on Thursday. USD/CAD attracts sellers for the fourth straight day and drops to over a three-week low.Hormuz risks support Crude Oil prices, underpinning the Loonie and weighing on the pair.A modest USD bounce helps… The USD/CAD pair is prolonging its recent corrective decline from the year-to-date high, reached in March, and drifting lower for the fourth consecutive day on Thursday. USD/CAD attracts sellers for the fourth straight day and drops to over a three-week low.Hormuz risks support Crude Oil prices, underpinning the Loonie and weighing on the pair.A modest USD bounce helps limit losses, though the fundamental backdrop favors bears.The USD/CAD pair is prolonging its recent corrective decline from the year-to-date high, reached in March, and drifting lower for the fourth consecutive day on Thursday. This also marks the eighth… For traders, this matters because commodity headlines often feed directly into inflation expectations, sector rotation and currency pricing. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.