USD/CAD refers to the US Dollar/Canadian Dollar currency pair and it shows how many CAD can be purchased for one USD....
Informally, the CAD is known as the Loonie, because of the loon bird which appears on one side of the Canadian $1 coin. USD/CAD is one of the most liquid, commonly traded major currency pairs, which means narrow spreads for traders. There are a variety of factors influencing the value of USD/CAD. One of the most significant of these is that the CAD is a commodity currency, meaning that its value is closely correlated to the value of a heavily traded commodity. The Canadian economy is strongly reliant on crude oil exports, so the currency will be impacted by oil prices and export capacity. In addition, the value of both currencies in the USD/CAD pair are influenced by the interest rate differential between the American Federal Reserve and the Bank of Canada. For example, an intervention by the Fed that strengthened the US dollar would weaken the Canadian dollar since more CAD would be required to buy a single USD dollar. It is also important to note that the Canadian dollar is one of the five major reserve currencies, meaning that many central banks and other leading financial institutions hold large amounts of CAD to use for international transactions as a way to minimize exposure to exchange rate risks.
Most Recent
In my daily analysis of the USD/CAD pair, the market has been all over the place.
During my daily analysis of the USD/CAD pair, I have seen a lot of upward pressure, and we are now well above the crucial 1.40 level.
During my daily analysis of the USD/CAD pair, it becomes obvious to me that we are in a strong uptrend, and we are threatening a major resistance barrier above.
Top Forex Brokers
The US dollar shot straight up in the air to test the 1.3950 level against the Canadian dollar during trading on Wednesday as we have seen a lot of upward momentum after the US election.
The US dollar has fallen a bit against the Canadian dollar during the trading session on Tuesday, as the world paid close attention to the US election.
And what I can only assume is a bit of profit-taking, during my analysis on Monday of the USD/CAD pair, the first thing I notice is that we have pulled back from the crucial 1.3950 level.
USD/CAD: During the early hours on Thursday, we did see a little bit of a pullback, only to turn around and show signs of strength again in the US dollar against the Canadian dollar currency pair.
In my daily analysis of the USD/CAD pair, the market seems to be attempting to break above the nearby resistance, but I believe we should closely watch the 1.350 level, which has been a key area multiple times.
In my daily analysis of the USD/CAD pair, the US dollar continues to show its strength, as we are certainly overextended, but recently had seen a little bit of consolidation.
Bonuses & Promotions
The US dollar initially did rally during the trading session on Tuesday, but we are getting a bit stretched to say the least.
It’s obvious that we have broken out to the upside as far as the greenback is concerned.
At this point in time, it looks like the US dollar continues to see plenty of buyers against its northern neighbor as the 1.3450 level has offered support yet again.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.
During my daily analysis of major currency pairs, the USD/CAD pair captures my attention due to the fact that we are heading toward a major support level.
The US dollar initially did rally against the Canadian dollar but then plunged later as we had received a little bit of soft economic news.
During the trading session on Thursday as I look around the various large currencies and main currency pairs, the US dollar looks as if it is trying to do everything it can to stabilize a bit against the Canadian dollar.