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


USDCAD News

USDCAD Eyes Yearly Low

USDCAD Eyes Yearly Low

The Bank of Canada kept rates unchanged yesterday at 1.75% as widely expected by markets. USDCAD trading close to daily low at 1.3047 amid USD weakness across the board after Jerome Powell, Chair of the Board of Governors of the Federal Reserve System Remarks yesterday. The Loonie also gets a [...]
Bank of Canada Keep Rates Unchanged

Bank of Canada Keep Rates Unchanged

The Bank of Canada kept rates unchanged at 1.75% as widely expected by markets. Bank Of Canada Governor Poloz will hold a press conference at 14:15GM T. USDCAD trading close to daily low before the decision at 1.3071 amid USD weakness across the board after Jerome Powell, Chair of the [...]
Canada Housing Starts Better than Forecasts

Canada Housing Starts Better than Forecasts

Canada Housing Starts s.a Year over Year, came in at 245.7K, eating forecasts. The Building Permits, Month over Month, came in at -13%, worst than analysts’ expectations of -2.5% in May. Bears are in full control as the pair trading below all major daily moving averages. The pair hovers in [...]
USDCAD Rebounds after Approaching YTD Low

USDCAD Rebounds after Approaching YTD Low

USDCAD resumes the downward trend at the beginning of the nw week revisiting the lows from October 2018.The pair hit today the low at 1.3048 and rebounded above the 1.3080 mark. Bears are in full control as the pair trading below all major daily moving averages. The pair hovers in [...]
USDCAD Approaches YTD Low

USDCAD Approaches YTD Low

USDCAD resumes the downward trend after the pair rejected on Monday at the weekly high at 1.3144 and today gives up 0.23 percent to 1.3073. CAD got a boost as the Canada International Merchandise Trade came in at $0.76B beating forecasts of $-1.5B for May. Exports came in at $53.11B,...

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USDJPY Returns to Downtrend Channel

USDJPY Returns to Downtrend Channel

USDJPY is giving up 0.21 percent at 107.66 as risk off mood returns to markets. Earlier today the BOJ policy board member Funo, noted that there is no need to ease policy now and add any stimulus, while Prime Minister Abe, said that he wants the Bank of Japan to [...]
FX Markets: PMI’s Will Set The Tone

FX Markets: PMI’s Will Set The Tone

Traders will closely watch today the PMI’s composite and services from around Europe.  France June final services, composite PMI will be released at 7:50GMT, the Germany June final services, composite PMI will be out at 7:55GMT and the Eurozone June final services, composite PMI will be published at 8:00GMT. UK [...]

USDCAD Turns Higher Following End to CAD Winning Streak

Today, the Canadian dollar is trading slightly lower on softer Crude oil prices following comments from the OPEC+ meeting. The Canadian dollar is also giving back gains from its impressive winning streak from May 31 to June 28 when the USDCAD slid from 1.3566 and reached a low of 1.3059. [...]