USD/CAD Tests One-Month Peak as Keystone XL Revival Possibility Emerges

Written by Emily J. Thompson, Senior Investment Analyst

Source: InvestingliveForex

Updated: Feb 24 2026

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Source: InvestingliveForex

USD/CAD Movement: The USD/CAD pair reached its highest level since January 26 before stabilizing, driven by a recovering US dollar and testing resistance levels from February.
Oil Prices and Market Conditions: Oil prices have rebounded to $66, influenced by geopolitical factors, while the US dollar benefits from a war safety premium amidst fragile equity markets.
USMCA Trade Negotiations: Developments in USMCA trade negotiations include South Bow Corp's consideration of reviving the Keystone XL pipeline, which could influence trade relations and investment clarity for Canada.
Potential for Canadian Investment: If a trade deal is reached, it could provide investment clarity for Canada, especially as commodity markets strengthen and tariffs on steel, lumber, and aluminum are addressed.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

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