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.

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USDCAD News

USDCAD

USD/CAD Outlook Ahead of US and Canada Jobs Data

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 […]

USDCAD

USD/CAD Approaches 3-Year Lows As Loonie Gains Momentum

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 […]

USDCAD

USD/CAD Forecast Ahead of the Canadian GDP Data

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 […]

US Dollar Weakens After FOMC Delays Tapering of QE

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 […]

USDCAD

USD/CAD Forecast Ahead of Canada’s Retail Sales, FOMC Statement

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 […]

USDCAD

USD/CAD Plunges Following the Hawkish BoC Interest Rate Decision

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 […]

USDCAD

USD/CAD Forecast Ahead of the BoC Interest Rate Decision

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 […]