The Canadian dollar has weakened against major currencies following a significant decline in crude oil prices. As a commodity-linked currency, the loonie tends to track energy market movements closely—when oil drops sharply, it typically drags the CAD lower alongside it. The recent pullback in crude reflects broader market dynamics, putting downward pressure on Canada's currency relative to the US dollar and other peers. This inverse relationship between energy prices and CAD strength is a key factor traders monitor when positioning currency trades, especially during periods of oil market volatility. The combination of softer commodity prices and shifting capital flows continues to weigh on the Canadian dollar's performance in forex markets.