Summary: USD/CAD climbed toward weekly highs as falling oil prices weakened the Canadian dollar despite strong domestic trade data. Canada's trade surplus reached a four-year high, but the positive economic data was overshadowed by the sharp decline in crude oil prices. USD/CAD rises as oil prices pressure the Canadian dollarThe USD/CAD exchange rate extended its gains on Wednesday, climbing toward the 1.4080 level as another sharp decline in oil prices continued to pressure the Canadian dollar. However, investors remained focused on the collapse in crude oil prices, which has become the dominant driver of the Canadian currency this week. Lower oil prices offset stronger Canadian economic dataThe Canadian dollar struggled to capitalize on stronger-than-expected domestic economic data as falling crude oil prices remained the dominant driver of market sentiment.