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

USD/CAD – Two Patterns Signal More Upside Potential

The USD/CAD pair is one of the hardest-hit pairs this 2021. The move higher in the crude oil price triggered a strong CAD reaction, and the USDCAD dropped several big figures. Now that the price of oil is consolidating and the USD shows some signs of strength, the USD/CAD struggles […]

USDCAD

USDCAD Falling Wedge Ahead of the Bank of Canada Decision

The USDCAD pair is one of the dollar pairs that corrected the most since the last March dollar strength. From that moment on, the Canadian Dollar gained across the board, especially against the American one. Ahead of Biden’s inauguration and the Bank of Canada decision, the USDCAD pair hints at […]

USDCAD

NFP Preview: USDCAD Presents Contrarian Trade Opportunity

It is the first Friday of the new month, and this brings the first Non-Farm Payrolls for the year and the Canadian Employment data. These two employment data sets will be released at the same time on Friday, January 8, thus providing a divergence trade opportunity for the USDCAD as […]

USDCAD

USDCAD: Downside Pressure Persists as Loonie Trumps Greenback Again

The USDCAD resumed the bearish trend move after yesterday’s mild recovery, as a dovish Fed and an upbeat private-sector employment report from the ADP Research Institute in Canada sent the Loonie soaring.  Data from the ADP indicates that Canadian private-sector employment rose by 40,800 jobs in November. This was a […]