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 correction continues for the third day in a row boosted today by a dramatic increase in the jobless claims, which hit the highest number even above
We saw a classic case of buy-the-rumor-sell-the-news price action on USDCAD. Yesterday, the currency pair traded in favor of the Loonie in anticipation of details of the Canadian government’s coronavirus relief package. Among the majors, USDCAD scored the most gains against the US dollar when it closed 1.88% or 271...
USDCAD trades higher after the two day’s correction from the four-year highs as the FED stepped in with aggressive measures to offset the coronavirus outbreak impact on the economy. The Federal Reserve will buy $250 billion in MBS this week and also will buy $375 billion in Treasuries.
USDCAD makes fresh four-year highs as the demand for US dollars continue across the board. The global sell-off amid the coronavirus outbreak shift investors attention to safe haven assets such as dollar....
USDCAD returns to positive territory after a weak start as the crude oil price gives up gains that were almost up to 7% earlier in the European session. The volatility in the markets is positive for the USD as investors run for cover to safe-haven assets. The pair hits the...