The USD card is sharply lower on the day after a spike in crude oil prices was triggered by the massive bomb blast in Lebanon yesterday. Initially thought to be terrorism-related, it appears the bomb blast was an accidental occurrence from a large stockpile of ammonium nitrate in a government […]
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 seesaws as traders assessing a plethora of economic data from both countries. The University of Michigan's (UoM) Consumers Survey showed that the Index of Consumer Sentiment dropped to 72.5
USDCAD gains some ground today after six straight days of losses after better than expected economic data from the USA earlier today. The Conference Board's Consumer Confidence Index dropped from 98.3 in June to 92.6
USDCAD continues lower for the fourth consecutive session but is off the daily lows as USD attracted some bids after worse than expected initial jobless claims from the USA.
Double top formation on the weekly USDCAD chart started a bearish trend.
USDCAD slumps to five-week lows on risk-on sentiment and after the release of the Canadian retail sales data. Canada Retail Sales came in at 18.7% below the forecasts of 20% in May.
USDCAD rebound today as the risk returns to markets after a mixed set of economic data from the USA and China. The United States Philadelphia Fed Manufacturing Survey came in at 24.1, above the expectations of 20 in July.
The USDCAD is in the middle of a choppy trading session as the Bank of Canada voted to leave the interest rates unchanged at 0.25%. This decision meets the market expectations, which did not foresee any further adjustment in interest rates. Attention has now shifted to the Q2 2020 edition […]
Sign up today to see how the USDCAD performs when the BoC releases its rate decision and statement tomorrow.
The economic calendar was relatively calm this week. The only major events in it were the RBA interest rate decision and the Canadian jobs numbers. The US dollar weakened against key currencies while gold price reached the highest level in more than 7 years. Global stocks wavered as US tensions […]