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
Chart by TradingView
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The USD/CAD pair tanked on Tuesday as the dollar weakened against the major global currencies. As a result, the US…
USD/CAD is having a great week as the pair rallied by 1.32%. However, it has been unable to break through…
USD/CAD remained steady on Wednesday after the Federal Reserve hinted towards a possible dovish approach. The Fed officials stated that…
USD/CAD displays signs of relief after correcting for three consecutive days. Last week, the currency pair fell 0.33% after a…
The USD/CAD exchange rate has been in a tailspin since the start of June 2023. The US Dollar to Canadian…
The USD/CAD exchange rate is on the rise once again due to a strong bounce in the DXY index. After…
The USD/CAD pair is once again showing a strong correlation with the DXY Index. After strengthening against the US dollar…
Our last USD/CAD forecast is still valid as the pair has bounced off a key trendline on its 1D chart.…
USD/CAD has played out exactly as discussed in our last USD to CAD forecast. The pair has formed a bullish…