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
The USDCAD is now at a critical support level after a stellar performance by the Canadian Dollar this week. The USDCAD is trading lower on the day to add to its previous lows for the week, and is now at a 5- week low. The driver for this price movement [...]
The USDCAD slid about 30 pips as the Canadian Employment reports surprised the markets in a positive manner. The unemployment rate dropped to 5.5%, lower than the previous figure of 5.7%. The Canadian Employment change was a positive figure, coming in at 53.7K as against the consensus number of +11.2K. [...]
The Canadian Dollar pairs (USDCAD and EURCAD) are expected to be in focus as the Canadian Employment data will be released at 12.30pm GMT. The report is two-pronged: the Canadian Employment Change and the Unemployment Rate. The consensus for the employment change is +11.2K jobs to be added to the [...]
USDCAD trades 0.03% higher at 1.3310. USDCAD boosted last Thursday by worse than expected GDP data; the Canada Gross Domestic Product (month over month) came in at 0% below expectations of 0.1% in July. Crude oil Canada main export commodity trading 1.16% higher at 53.42 just to offset the negative [...]
USDCAD trades 0.08% higher at 1.3332 despite the Challenger Job Cuts from the US dipped from previous 53.5K to 41.5K in September. Yesterday, USDCAD was boosted by worse than expected GDP data; the Canada Gross Domestic Product (month over month) came in at 0% below expectations of 0.1% in July. [...]
USDCAD trades 0.22% higher at 1.3266 despite worse than expected ISM Manufacturing PMI; the figure came in at 47.8 below expectations of 50.10. USDCAD boosted earlier by worse than expected GDP data; the Canada Gross Domestic Product (month over month) came in at 0% below expectations of 0.1% in July. [...]
Traders will be busy today as we expect a full bag of data from both sides of the Atlantic. In European trading session we await the Swiss retail sales due at 630GMT. European PMI’s coming up next: French manufacturing PMI's at 7:50GMT, German manufacturing PMI's at 7:55GMT and Eurozone manufacturing PMI's [...]
The CFTC has released its latest Commitment of Traders report, for the week ended September 24. This report shows some significant changes on some of the pairs, especially the Canadian Dollar which has seen a reduction in the net long positions. Net longs on the CAD are only a quarter [...]
