The USDCAD pair declined today as the market reacted to the surging crude oil price. The pair dropped to an intraday low of 1.4000 as the Canadian dollar continued to surge. The CAD also gained against other peers like the British pound and euro.
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 Higher As Canada Extends Wage Subsidy Program
USDCAD Seesaws Around The 50-Day MA
USDCAD in Bullish Start to the Week, Major Price Move Awaited
The USDCAD is in a symmetrical triangle following today's 100-pip push. Which way could the pair go when the triangle gives way? Sign up to see the actionable analysis of the pair.
USDCAD Slumps On Higher Crude Oil Price And U.S. Jobless Claims Data
USDCAD slumps after another dismal U.S. initial jobless claims. U.S. Initial Jobless Claims came in at 3169K, topping the forecasts of 3000K on May 1, the previous week reading was at 3.839K.
USDCAD jump as US braces for record NFP payrolls data
USDCAD slides as US and Canadian trade deficits widen
The USDCAD pair declined today as the market reacted to the trade data from the US and Canada. The pair also dropped because of the overall strength of the US dollar. US trade deficit soars in March Data from the Bureau of Economic Analysis (BEA) showed that the US trade [...]
USD/CAD: 3 reasons why the Canadian dollar is tumbling
The USD/CAD rose by more than 30 basis points as traders reacted to the CoT report released on Friday, the falling crude oil prices, and the rising number of coronavirus cases.
USDCAD Seesaws After Weak Canadian GDP Data
USDCAD is hovering around the unchanged level as investors receiving negative economic news from the USA and Canada. Canadian dollar pressured by weak GDP data for February. The GDP came in at 2.1% below the expectations of 2.2%. The January reading was at 1.8%. Canada's economy is expected to contract [...]
USD/CAD: Canadian dollar off the rails as 3 catalysts push crude oil price higher
The USD/CAD pair declined in overnight trading as the market reacted to positive crude oil-related news. The Canadian dollar also gained in reaction to the relatively dovish interest rates decision by the Federal Reserve.
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