The USDCAD pair dropped today as investors reacted to the price action in the oil market. The pair slipped from...
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
The USDCAD pair rose by more than 70 basis points as a dark cloud loomed over the Canadian economy. Justin Trudeau is now combating two problems at the same time. Oil price is slumping while the number of coronavirus cases is slowing.
The USDCAD looks set to resume the uptrending move of the last 4 months as the Canadian Dollar is taking...
USDCAD gives up gains after worse than expected initial jobless claims. The U.S. Jobless Claims came in at 5245K above the market consensus of 5105K in the week of April 10
The USDCAD extended its surge on Wednesday after the Bank of Canada (BoC) held rates at 0.25% as expected, following...
The Canadian dollar slumped against the US dollar ahead of the Bank of Canada interest rates decision later today. The...
USDCAD pares early losses as the crude oil price slumps to $21.39. The United States Redbook Index dipped to -8.3% on April 10, from the previous 0.9%, the yearly reading came down to -2%
The technical setup on USDCAD suggests that the currency pair may soon revisit its multi-year highs after labor data from Canada shows record number of job losses in March. As of this writing, the currency pair is down over 370 pips from its weekly high.
USDCAD fluctuates between the 50 and 100-hour moving averages after historic terrible employment data from USA and Canada. The United States Initial Jobless Claims
USDCAD trades 0.31% higher at 1.4035 after the Canadian Building Permits declined by 7.3% in February, below the forecasts of -4.5% while the Housing Starts came in at 195K beating the expectations of 180K in March.