Canadian dollar is dropping comparing to the USD

The Canadian dollar slipped around 0.23 % during yesterday’s session. At the same time, oil prices could not hold the rising pattern from the Asian session.

Also, Crude prices dropped today on the backdrop of the advancing US-Sino trade dispute, declining the overall demand outlook.

Now, USD/CAD trades at 1.3261 CAD, which is a gain of 0.00236 or 0.18% from the previous close of 1.32376.

The trading volume is 58.988K, while the daily range is from 1.3228 to 1.3261.

Moreover, the job data came weaker than the forecast of Friday and could add to the mounting pressure on the Bank of Canada (BoC) to reduce its interest rate.