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 trades 0.03% higher at 1.3055 close to three-month lows as the crude oil prices rallied to monthly highs and as risk appetite return to markets on positive headlines from US-China trade negotiations and positive Brexit developments. On the economic data front, the US S&P/Case-Shiller Home Price Indices (year over...
USDCAD has hit the fresh 3-month low of $1.3049 today on the improved risk appetite and higher oil prices. The pair is targeting psychologically-important $1.30 next. Don’t miss a beat! Follow us on Telegram and Twitter. In the anticipation of the Bank of Canada (BoC) interest rate decision and Fed...