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 Trade Ideas as Canadian Trade Balance and NFP Loom

The USDCAD will be in focus today at 12.30GMT as the Canadian Trade Balance is released. The expectation is for a deficit of $300,000 to be registered, which is a huge drop from the $800,000 surplus recorded previously. The USD/CAD pair has been trading upwards for most of the week [...]
USDCAD Jumps to Three Week Highs and Retreat

USDCAD Jumps to Three Week Highs and Retreat

USDCAD trades 0.22 percent higher at 1.3220 in positive momentum for second consecutive day, having the daily high at 1.3247 and the daily low at 1.3182. USD continues to attract bids as investors digest the interest rate cut by Fed yesterday. The US July ISM manufacturing index came in at [...]

Possible Trade Setups for USDCAD on Major News

At 12.30 UTC the Canadian Monthly GDP will be published.  The market is expecting a contraction of the Canadian economy to just 0.1% growth, a 2-point drop from the previous figure of 0.3%. This news release is coming against the backdrop of the FOMC interest rate decision later in the [...]
USDCAD Climbs to Three Week High

USDCAD Climbs to Three Week High

USDCAD trades 0.03 percent higher at 1.3166 in positive momentum for sixth consecutive day, having the daily high at 1.3167 and the daily low at 1.3154. USD continues to attract bids as investors have cut their interest rate cut expectations to 25 basis points by Fed next week. Crude oil [...]
USDCAD Positive Momentum Intact

USDCAD Positive Momentum Intact

USDCAD trades 0.06 percent higher at 1.3138 in positive momentum having the daily high at 1.3146 and the daily low at 1.3124. USD continues to attract bids as investors have cut their interest rate cut expectations to 25 basis points by Fed next week. United States MBA Mortgage Applications came [...]
USDCAD Gains Momentum for a Break Above 1.31

USDCAD Gains Momentum for a Break Above 1.31

USDCAD trades 0.26 percent higher at 1.3091 in positive momentum, after Canada May wholesale trade sales came in at -1.8% worse than expectations of +0.5% making the largest drop in more than 3 years. Meanwhile the Chicago Fed National activity index for June 2019 fell by -0.02%, while the expectations [...]

USDCAD Spikes Briefly on Poor Canadian Retail Sales

The USDCAD is testing the 1.3100 psychological resistance level on the back of June’s disappointing Canadian Retail Sales figures. The USD has spiked close to 75 pips against the Canadian Dollar, after the Retail Sales came in at 0.1% as against the 0.3% that the market was expecting. The core [...]