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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

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USDCAD

USDCAD At Week Lows As Bears Testing the 200-Day SMA

Forex
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USDCAD extends yesterday's losses to two-week lows amid general USD weakness as investors ignore the rising number of new coronavirus cases and focus on more risky assets while dumping USD which acted as a safe-haven asset during the pandemic.
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Live USDCAD Chart

USDCAD Digest U.S. and Canada GDP Data

Forex
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USDCAD seesaws as traders assessing a plethora of economic data from both countries. The University of Michigan's (UoM) Consumers Survey showed that the Index of Consumer Sentiment dropped to 72.5
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