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 adds 0.07% at 1.3289, in quiet trading as US markets are closed for Thanksgiving. Statistics Canada reported that Canada’s
The Canadian Retail Sales figure showed a drop in September by 0.1%, which was lower than the previous figure that was revised to a rise of 0.1%. However, it was better than the forecast of - 0.3%. The report did not provide significant volatility on the USDCAD as a deeper...