USD/CAD: Canadian dollar falls ahead of BOC interest rate decision

The USD/CAD price is up by 0.55% as traders react to low crude oil price ahead of the Bank of Canada (BOC) interest rate decision. The pair is trading at 1.3250, which is the highest it has been since October 15. Crude oil price slides Canada is the fourth-biggest crude oil producer after the United States, Saudi Arabia, and Russia. The country produces more than 5.9 million barrels every day. It consumes about 2.2 million barrels every day and exports the rest. Also, the sector employs millions of people directly and indirectly. These factors make the Canadian dollar highly-sensitive to