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.
USD/CAD has eased after dropping from C$1.2288 to C$1.2142 in the previous session. The rising risk appetite, coupled with lower-than-expected ADP job numbers on Wednesday, has weakened the US dollar. The dollar index, which tracks the value of the greenback against a basket of currencies, is at 90.91. It has […]
A combination of soft U.S. data and higher crude oil prices have pushed the USD/CAD to 3-year lows this Wednesday. The greenback dropped off its 2-week highs after the 742,000 ADP employment change fell short of the market expectation of 800,000 jobs. Furthermore, business activity in the U.S. services industry […]
USD/CAD has declined further ahead of the Canadian GDP data. Analysts expect a reading of 0.5% MoM compared to January’s 0.7%. Earlier in the week, the country recorded strong growth in retail sales at 4.8% MoM. The number was higher than the expected 4.0% and January’s -1.1%. The rise in […]
The US Dollar lost ground in the late New York session after the Federal Open Market Committee (FOMC) of the US Federal Reserve left rates on hold, but did not deliver the expected language on tapering the quantitative easing program that the markets had hoped for. Rather, the apex bank […]
USD/CAD is on a consolidation pattern as investors look for further cues from the Fed interest rate decision and Canada’s retail sales data. The Canadian dollar has been strengthening against the US dollar for over a week now after the BoC interest rate decision. While it maintained interest rates at […]
USD/CAD has declined further as investors digest Wednesday’s BoC interest rate decision. As was expected, the bank retained interest rates at 0.25%. The rates have remained at that level since the beginning of the coronavirus pandemic in 2020. Besides, the central bank has decided to lower its weekly quantitative easing […]
The Bank of Canada (BoC) has just announced its interest rate decision, leaving the key rate unchanged at 0.25% at the April policy meeting. However, the key data piece was the tapering of the quantitative easing program of the bank via a downward adjustment of the size of its asset […]
USD/CAD is trading lower as investors eye Wednesday’s BoC interest rate decision. The central bank is expected to leave interest rates unchanged at 0.25%. Notably, the rates have remained at that level since the beginning of the coronavirus pandemic. However, the focus will be on the bank’s tone and the […]
The USD/CAD resumed its push lower after a day of respite, as risk-on sentiment held sway in the markets on the back of several fundamentals. Crude oil prices edged slightly higher on the day, and look set to end the week 6% higher to give the commodity-linked loonie the edge […]
USD/CAD is on a decline ahead of data from the US and Canadian housing industry. The Canadian economy has been improving following the rise in crude oil prices. On Friday, WTI futures were at $63.52 after dropping to $57.70 earlier in the month. A comparison of the US and Canadian […]