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: CAD Falls As BoC Holds Rates at 1.75%

In USDCAD news, the Bank of Canada has held rates steady at 1.75%, but the USDCAD spiked after the BoC provided a less-than-hawkish tone than the market expected to is quarterly monetary policy report. The USDCAD charts show that the pair is trading at 1.31362, representing a 100-pip surge on [...]
USDCAD bank of canada

USDCAD Range Trading Ahead Of Bank Of Canada Rate Decision

USDCAD trades 0.02% higher at 1.3066 in quiet trading session as the US markets are closed today for the Martin Luther King day. US Dollar is stronger across the major pairs today helped by better economic data released the previous week. The housing starts increased to an annualized rate of [...]

Canadian Unemployment Preview: Implications for the USDCAD

The Canadian employment data features on Friday at 1.15pm, and is composed of the Employment Change and Unemployment Rate figures for Canada. The timing of this report coincides with the release of the US Non-farm Payrolls report. This therefore demands extra vigilance from traders who want to trade the Canada [...]

USDCAD Breaks Above 1.30 Ahead of ISM Non-Manufacturing PMI

USDCAD rebounds strongly today adding 0.30% at 1.3002 as the USD recovers across the board helped by better fundamental data from the U.S.  The U.S. trade deficit declined by $3.9 billion in November. The services and goods deficit dropped to $43.1 billion in November from $46.9 billion in October. The [...]