USDCAD is under selling pressure for the third consecutive session making fresh two week lows. The contraction in U.S. GDP was worse than analysts estimates.
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
USD/CAD: Why is Canadian dollar soaring amid crude oil plunge?
USDCAD Retreat On U.S. Dismal Economic Data
USDCAD retreat as the employment data out from the U.S. shows the coronavirus crisis impact. The numbers indicate a contraction much worse than the global financial crisis.
USDCAD retreats as oil prices stabilise and Canadian CPI disappoint
The USDCAD pair dropped today as investors reacted to the price action in the oil market. The pair slipped from the day’s high of 1.4233 to an intraday low of 1.4118. Crude oil price stabilises Canada is a major oil producer, which means that the Canadian dollar tends to react [...]
USDCAD Spikes As Trudeau Fights Two Battles At The Same Time
The USDCAD pair rose by more than 70 basis points as a dark cloud loomed over the Canadian economy. Justin Trudeau is now combating two problems at the same time. Oil price is slumping while the number of coronavirus cases is slowing.
USDCAD Likely to Resume Uptrend As Crude Oil Prices Drop
The USDCAD looks set to resume the uptrending move of the last 4 months as the Canadian Dollar is taking a hit from the fresh round of the crude oil price slump. The WTI crude oil benchmark traded today at $13 per barrel, marking 19-year lows. The commodity-dependent Canadian Dollar [...]
USDCAD Turns Lower After Another Disastrous Jobless Claims Report
USDCAD gives up gains after worse than expected initial jobless claims. The U.S. Jobless Claims came in at 5245K above the market consensus of 5105K in the week of April 10
USDCAD Trades Higher As Bank of Canada (BoC) Holds Rates
The USDCAD extended its surge on Wednesday after the Bank of Canada (BoC) held rates at 0.25% as expected, following a series of emergency cuts in March 2020. The Canadian Dollar has been under pressure for several weeks following the drop in crude oil price as well as last week’s [...]
USDCAD: Canadian Dollar Falls As Oil Prices Slide; BOC Decision Eyed
The Canadian dollar slumped against the US dollar ahead of the Bank of Canada interest rates decision later today. The USDCAD pair also rose because of the slumping oil prices. Oil Prices Drop Canada is one of the biggest producers of crude oil in the world. The country exports more [...]
USDCAD Pare Early Losses As Crude Oil Price Slumps
USDCAD pares early losses as the crude oil price slumps to $21.39. The United States Redbook Index dipped to -8.3% on April 10, from the previous 0.9%, the yearly reading came down to -2%
Q2 Global Market Outlook
Published: April 1, 2020 | Authors: Alejandro Zambrano, Martin Lam, and Cameron Bowen.
GLOBAL MARKET OUTLOOK Q2, 2020
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