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
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The USD/CAD is trading 0.34% higher after generally positive US data lifted the greenback over the Loonie this Thursday. A 3.5% drop in crude oil prices on the West Texas Intermediate (WTI) variant also helped suppress any bullish activity from the Canadian Dollar. US Retail Sales data revealed mixed results, with the core component of … Read more
The USD/CAD price continued its bullish trend on Wednesday morning as investors reacted on the strong US dollar and the upcoming interest rate decision by the Bank of Canada. It rose to a high of 1.3192, which was the highest point since 1st September. The USD to CAD exchange rate has jumped by more than … Read more
The USD/CAD pair has surrendered all its earlier gains of the day and now trades a tad lower after rising crude oil prices provided intraday support to the commodity-linked Loonie at the expense of the greenback. The pair had surged 0.81% on Friday after the US Dollar gained traction from hawkish remarks by Fed Chair … Read more
Weak Chinese economic data has brought safe-haven demand into the FX market, putting the US Dollar on bid and undermining commodity-linked currencies. This has led to a 1% surge in the USD/CAD this Monday. The risk-off sentiment has also hurt crude oil prices, sending the international Brent crude oil price benchmark down and by extension, … Read more
The USD/CAD has reversed all Friday’s gains and is now trading 0.64% lower after FX market participants priced in a more aggressive tightening of interest rates by the Bank of Canada (BoC). Rising oil prices are also a source of Loonie strength this Monday. The pair had witnessed a % uptick on Friday as US … Read more
The USD/CAD is trading higher today after reversing initial losses earlier in the London session. The New York session has brought a reprieve for the pair after better-than-expected US ISM Manufacturing PMI data hit the newswires. The latest release from the Institute of Supply Management on the business conditions within the US manufacturing sector indicates … Read more
The USD/CAD price has come under pressure in the past few weeks as investors reflect on the actions of the Federal Reserve and the Bank of Canada (BoC). As a result, the pair dropped to a low of 1.2805, the lowest level since June 13th of this year. Moreover, it has dropped by over 3% … Read more
The USD/CAD price formed a hammer pattern last week as investors focused on the soaring Canada inflation data. As a result, the USD to CAD exchange rate is trading at 1.2935, slightly above last week’s low of 1.2818, as the focus shifts to key events from the US. Fed decision ahead The USD/CAD price rose … Read more
The USD/CAD is down 0.25% this Tuesday and appears on course to make it three straight losing sessions as the broad-based weakness of the greenback continues. As a result, markets have been in the mood for riskier assets this week, as traders who were long on the greenback banked profits. The Loonie had gained considerable … Read more
The USD/CAD is up 0.47% as the greenback gains traction over its peers this Monday. However, the gains appear capped as the bulls on the loonie hinge their bets on the record low unemployment rate despite a shortfall in jobs additions and the expectation of a 50 bps rate hike by the Bank of Canada … Read more
The USD/CAD price jumped to the important resistance level at 1.3080 as investors rushed to the safety of the US dollar. The USD to CAD exchange rate is trading at 1.3033, which is about 1.70% below the lowest point on Friday last week. Safety of the US dollar The USD/CAD price rose sharply as the … Read more
The USD/CAD price retreated sharply during the Asian session as investors waited for the upcoming US GDP data and Jerome Powell’s speech. As a result, the USD to CAD exchange rate dropped to a low of 1.2820, the lowest point since last Friday. This price is about 1.63% below its highest point this week. US … Read more