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.
In USDCAD news, the Bank of Canada has held rates steady at 1.75%, but the USDCAD spiked after the BoC provided a less-than-hawkish tone than the market expected to is quarterly monetary policy report. The USDCAD charts show that the pair is trading at 1.31362, representing a 100-pip surge on [...]
USDCAD trades 0.02% higher at 1.3066 in quiet trading session as the US markets are closed today for the Martin Luther King day. US Dollar is stronger across the major pairs today helped by better economic data released the previous week. The housing starts increased to an annualized rate of [...]
BOJ Rate Decision The Bank of Japan(BOJ) is scheduled to take center stage on Tuesday. In its monetary policy meeting, there are no changes expected to its current interest rate level at -0.10%. There is some sense of optimism that BOJ Governor Haruhiko Kuroda will announce an upgrade on growth [...]
The Bank of Canada and the Canadian Dollar will come into focus on January 22, when the Canadian central bank will hold its first-rate meeting for the year. The BoC lifted its interest rate to 1.75% in October 2018 and left it there since then. At this month’s rate meeting, [...]
The USDCAD is trading lower intraday as the generally positive outlook painted by the Bank of Canada (BoC) in its business sentiment survey is helping prop the Canadian Dollar. The USDCAD is now trading at 1.30418 as at the time of writing, as the BoC Business Outlook Survey showed that [...]
The Canadian employment data just released shows that the Canadian unemployment rate has dropped to 5.6% (consensus: 5.8%), with a Canadian Employment Change of +35.2K jobs versus the consensus number of +24.9K. This was also better than the 5.9% and the -71.2K jobd registered as the previous figures for both [...]
USDCAD trades 0.19% higher at 1.3064 helped by better Initial jobless claims data. The U.S. Initial Jobless Claims came in at 214K, below forecasts of 220K on January 3. The previous week reading revised to 223,000 from 222,000. The four-week moving average came in at 224K below the estimates of 236.64K. [...]
The Canadian employment data features on Friday at 1.15pm, and is composed of the Employment Change and Unemployment Rate figures for Canada. The timing of this report coincides with the release of the US Non-farm Payrolls report. This therefore demands extra vigilance from traders who want to trade the Canada [...]
USDCAD rebounds strongly today adding 0.30% at 1.3002 as the USD recovers across the board helped by better fundamental data from the U.S. The U.S. trade deficit declined by $3.9 billion in November. The services and goods deficit dropped to $43.1 billion in November from $46.9 billion in October. The [...]
Next week is the first full week of trading for 2020. There are quite a handful of reports due for release that could trigger potential high-probability trades. US: ISM Non-Manufacturing, ADP Report, and Non-Farm Payrolls (NFP) The US will release a roster of high-impact economic data next week. It will [...]
Q1 Global Market Outlook
Published: January 2020 | Authors: Alejandro Zambrano, Martin Lam, and Ramy Abouzaid.
The year is almost over, and it is time to try to figure out what 2020 has to offer. Read our special report today to learn which markets could be offering the best opportunities according to the InvestingCube team.
