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Canada dollar today is performing well against most major currencies, but I see that it is under some pressure against the US dollar. WTI crude oil prices have risen about 2.7%, which is good for the Canadian dollar since Canada is a major oil exporter. Brent crude has also increased by around 1.4%.
However, what limits the Canadian dollar are the Middle East tensions. Iran has issued threats, and escalating conflicts have worried investors. The US dollar benefits from this as a safe haven and is getting stronger. The US dollar index has also increased.
The Canadian dollar could improve if oil prices stay high, but as long as these tensions continue, the US dollar is likely to maintain its dominance. The Bank of Canada is also probably slowing down the pace of rate cuts.