USDCAD slumps to five-week lows on risk-on sentiment and after the release of the Canadian retail sales data. Canada Retail Sales came in at 18.7% below the forecasts of 20% in May.
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
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USDCAD rebound today as the risk returns to markets after a mixed set of economic data from the USA and China. The United States Philadelphia Fed Manufacturing Survey came in at 24.1, above the expectations of 20 in July.
The USDCAD is in the middle of a choppy trading session as the Bank of Canada voted to leave the...
Sign up today to see how the USDCAD performs when the BoC releases its rate decision and statement tomorrow.
The economic calendar was relatively calm this week. The only major events in it were the RBA interest rate decision...
USDCAD fails to show major response to upbeat Canadian jobs data. Sign up to find out why.
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.
USDCAD pare early losses and reverse three days of losses as the risk-on sentiment shift investors attention from the safe-haven...
USDCAD trades higher for the fifth consecutive session as the pairs rebound from the 200-day moving average continues. Rising fears...
The USDCAD pair moved up slightly as investors remained concerned about the rising coronavirus cases in the United States. The pair is trading at 1.3650, which is higher than this week’s low of 1.3485. At the same time, the US dollar index is down by 10 basis points.