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

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. [...]
USDCAD Rebounds Above 1.31

USDCAD Rebounds Above 1.31

USDCAD managed to rebound today after five consecutive straight losses amid broad USD strength. Positive outcome from G20 summit increased the risk appetite in the markets. In OPEC meeting all ministers approved the nine month cut extension. The news pushed the crude oil price higher above $60, but the Loonie [...]
USDCAD Breaks Below the YTD Low

USDCAD Breaks Below the YTD Low

USDCAD gives up 0.12 percent to 1.3072 after stronger than expected figures from Canada. The GDP growth in April came in at 0.3% beating the analyst’s expectation of 0.1%, previous figure was at 0.5%. The Bank of Canada Business Outlook Survey for the 2Q 2019 noted a slight improvement in [...]
Oil Drives USDCAD to 5-Month Low

Oil Drives USDCAD to 5-Month Low

USDCAD gives up 0.39 percent to 1.3115 as Loonie gets a boost from the rally above $59 per barrel in crude oil. The Energy Information Administration in its weekly report announced earlier today that the crude oil inventories in the U.S. decreased by 12.8 million barrels from the previous week. [...]
USDCAD: Bearish Momentum Persists

USDCAD: Bearish Momentum Persists

USDCAD trades flat today at 1.3191 as traders continue to dump the US dollar after the dovish minutes from FED last Wednesday.  The Canada’s Loonie got an extra boost from WTI crude oil rally above $57 per barrel as the geopolitical tensions increase. USDCAD traders will closely follow the discussions [...]
USDCAD Test 1.3150 and Rebounds

USDCAD Test 1.3150 and Rebounds,

USDCAD trades lower for one more today at 1.3191 as traders are dumping the US dollar after the dovish minutes from FED yesterday.  Loonie got an extra boost from WTI crude oil rally at $57 per barrel. In U.S. macro data, the initial jobless claims fell by 6,000 to 216,000 [...]
USDCAD Breaks Below 1.34 Ahead of FOMC

USDCAD Breaks Below 1.34 Ahead of FOMC

USDCAD trades lower today at 1.3377 as traders are cautious ahead of the important FOMC policy meeting. Loonie got a boost from crude oil rally yesterday above $54 per barrel. Canada has fallen out of the top 10 of the world’s most competitive economies, a sign that Canadians may have [...]
USDCAD Holds the 1.34 Mark, Looking for a Break Higher

USDCAD Holds the 1.34 Mark, Looking for a Break Higher

USDCAD trades lower today at 1.3406 as loonie traders are cautious ahead of the important FOMC policy meeting.  Canada has fallen out of the top 10 of the world’s most competitive economies, a sign that Canadians may have a harder time succeeding financially in the coming years. This year edition [...]
USDCAD Back Above 1.34

USDCAD Back Above 1.34

USDCAD trades higher at weekly top amid broad USD strength after macro data released earlier today showed that retail sales rose 0.5% in May and April’s data was revised higher. Core sales also gained 0.5% MoM and Retail Sales Control expanded more than expected 0.5% inter-month. Industrial Production expanded 0.4% [...]