Canada continues to be concerned about the slowdown in crude oil prices before a slight uptick. OPEC has stated that fundamental market factors continue to support crude oil prices. Additionally, the reduction in OPEC's production capacity has lowered global market supplies.

Janet Yellen, the United States Treasury Secretary, expressed confidence in the economy's ability to recover, although credit rating agency Moody's remains cautious. Consequently, Moody's decided to downgrade the United States' credit outlook from 'Stable' to 'Minus,' citing significant fiscal deficits and decreased debt repayment ability.

Investors are closely watching the inflation data from the United States, set to be announced today, which will directly impact USD/CAD. Federal Reserve officials mentioned that the intensification of monetary policy depends on inflation data. If the inflation data aligns with expectations, it may lead investors to believe that the Fed's interest rate hikes are coming to an end.