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


FOMC Lowers US Interest Rate by 25bps As Expected

The Federal Open Market Committee (FOMC) lowered the Federal Funds Rate from 2% to 1.75% in an interest rate decision which was widely predicted to happen. The markets had already priced this in by more than 90% and most of the US pairs had a muted response to the news. [...]

USDCAD Soars on Dovish Bank of Canada (BoC) Rate Statement

The USDCAD soared more than 80 pips this afternoon after the Bank of Canada (BoC) issued a dovish rate statement following the 1.75% hold. The Bank of Canada noted that Canada’s economic growth could experience a slowdown in the latter half of the year. Exports and investment are expected to [...]

USDCAD Jumps to Daily High after BOC Keeps Rates Unchanged

USDCAD trades 0.49% higher at 1.3149, hitting the daily high after the Bank of Canada held interest rates unchanged at 1.75% as widely expected by markets. The United States Gross Domestic Product Price Index came in at 1.6%, below forecasts of 1.9% in 3Q, 2019. On a yearly basis, the [...]

USDCAD Makes New 3-Month Low, Targets 1.30 Next

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...

USDCAD Higher After Better Thank Expected US Manufacturing PMI

USDCAD Bounces Off Lows on Strong US Manufacturing PMI

USDCAD has bounced off of the multi-month lows on the stronger-than-expected US Marking Manufacturing PMI, which came at 51.5, compared to 51.1 for the previous month of September, and 50.7 expected by the market. Download our Q4 Outlook Today! The US dollar has received a boost after the better than expected [...]

BoC: Business Outlook Survey Indicates Improved Business Sentiment

The Bank of Canada's Business Outlook Survey for Q3 2019 was released a short while ago. The report indicated that business sentiment in the country had improved, although there were greater differences across regions than ever before. According to the report: Moderate sales growth lay ahead from the indicators used [...]