USDCAD

In this section, you will find important USDCAD news, actionable trading ideas, and a live USDCAD chart to help you understand how the Canadian Dollar trades.

USDCAD also is known as Loonie amongst Forex traders, is the ticker symbol in FX markets that represents how many Canadian dollars you can buy with one US dollar. USDCAD is one of the major FX pairs with liquidity and narrow spreads. USDCAD is a commodity pair because the Canadian economy is a natural resources export economy. The other commodity pairs are AUDUSD and NZDUSD. Important role to the value of USDCAD plays the price of oil, due to large trading volumes of oil between the two countries. Other factors that affect the Loonie exchange rate are interest rates, unemployment, economic growth, and public deficit.

Live USDCAD Chart


USDCAD News

USDCAD

USDCAD Off Intraday Lows After Weak Canada Retail Sales Data

The USDCAD is off intraday lows after data from Statistics Canada showed that Canada Retail Sales only grew up 0.4% for August, which was much less than the consensus and previous figures of 1.1%. Core Retail Sales (retail sales ex.autos) grew 0.5%, which was higher than the -0.4% figure released […]

USDCAD Tumbles on Stimulus Hopes with Canadian Inflation Ahead

USDCAD was 0.25% in today’s session after a failure at resistance led to a near 100 pip drop yesterday. Today sees a key release in the form of Canadian inflation figures. Inflation expectations for the Canadian economy are for a reading of 0.4%, compared to 0.1% in August. The figures […]

USDCAD

USDCAD Rallies on U.S. Data but the Downside May Still Prevail

USDCAD rallied on strong U.S. inflation figures yesterday but the recent downward trend may still win out. The pair currently trades at the 1.1313 level as the bulls and bears battle it out for control. Tuesday saw U.S. inflation come in at 1.4% and although this was the expected result, […]

USDCAD

USDCAD Ascending Triangle Hints to More Strength Ahead

The USDCAD pair forms an ascending triangle ahead of the GDP release later today. Moreover, the bullish pattern might be interpreted as part of a pennant formation – another clue that the pair’s recent strength will likely continue. These days it is all about the U.S. election and the USD. […]

USDCAD

USDCAD Reversal In Place – Can It Rise More?

The USDCAD pair is one of the best performers this September. It rose from 1.30 to almost 1.35 after forming an inversed head and shoulders pattern. The reversal pattern acted like a textbook one – similar consolidation on the left and right shoulders, then the price heading for the measured […]

USDCAD

USDCAD Still Has Room to Advance – 1.35 in Focus

The USDCAD pair formed a classic reversal pattern at the 1.30 level – an inversed head and shoulders with a measured move that points to the 1.35 level. Once again, the pair found support at the 1.30 level, a key level with multiple technical implications on the bigger timeframes. Both […]