USDCAD pare some of the early loses after better than expected U.S. unemployment rate while the Canada unemployment rate came worse than the expectations
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
Sign up to find out how the USDCAD can be used to trade the US Non-Farm Payrolls and Canada Employment data, scheduled for release at the same time tomorrow.
The ADP Employment change did not affect the USDCAD. Sign up here to read the outlook on the pair before Friday’s employment numbers from both countries.
Few currency pairs reflected the USD weakness like the USDCAD did in the last weeks. The pair evolves in a tight, bearish channel, with little or no pullbacks – the ideal trading environment for bears. However, it approaches support levels not seen since before the coronavirus pandemic. As this is […]
The USDCAD is trading lower on the day as the loonie consolidates on its strengthening on the greenback following upbeat GDP numbers. Canadian GDP (month) registered at 6.5%, which was better than the previous reading of 4.5% and also better than the 5.2% that analysts had expected. Despite the plunge in […]
A very choppy day on many USD pairs, including the USD/CAD, is starting to show signs of stability, with the loonie about to close off a milestone on the greenback. The USDCAD is trading at 1.31396 and is set to post its lowest close since mid-January. The announcement of a […]
USDCAD hit almost eight-month lows today during the European session but managed to rebound in the early American session. The dollar shows some strength now, and the dollar index (DXY) turned positive.
USDCAD continues the sharp correction reaching seven-month lows as the sell-off in USD continues across the majors. Risk-on sentiment continues to support Canadian loonie
USDCAD after a short break on Friday, today resumed the downtrend threatening for on more time a break below the 1.32 mark. After a slow start today the pressure to USD accelerated after a big miss in NY Empire State Manufacturing Index
USDCAD resumes the downward trend after a short rebound the last trading sessions of the previous week. Canadian dollar helped by better than expected housing starts and the rally in crude oil prices