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

USDCAD

USDCAD Approaching Support But Price Action Still Bearish

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 […]

USDCAD

Upbeat Canada GDP Sends USDCAD Towards Mid-January Lows

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 […]

USDCAD

USDCAD Approaches the 1.3186 Key Support Area

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