USDCAD hit almost eight-month lows today during the European session but managed to rebound in the early American session. The dollar shows some strength now, and the dollar index (DXY) turned positive.
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.
Live USDCAD Chart
Chart by TradingView
USDCAD continues the sharp correction reaching seven-month lows as the sell-off in USD continues across the majors. Risk-on sentiment continues to support Canadian loonie
USDCAD after a short break on Friday, today resumed the downtrend threatening for on more time a break below the 1.32 mark. After a slow start today the pressure to USD accelerated after a big miss in NY Empire State Manufacturing Index
USDCAD resumes the downward trend after a short rebound the last trading sessions of the previous week. Canadian dollar helped by better than expected housing starts and the rally in crude oil prices
The USDCAD pair is up for the second straight day as investors react to an overall strong US dollar and...
The USD card is sharply lower on the day after a spike in crude oil prices was triggered by the...
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
USDCAD gains some ground today after six straight days of losses after better than expected economic data from the USA earlier today. The Conference Board's Consumer Confidence Index dropped from 98.3 in June to 92.6
USDCAD continues lower for the fourth consecutive session but is off the daily lows as USD attracted some bids after worse than expected initial jobless claims from the USA.
Double top formation on the weekly USDCAD chart started a bearish trend.