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.
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USD/CAD speculators should brace for crucial U.S inflation data coming today, which is certain to cause volatility and jolt the currency pair from its short-term middle ground.
The USD/CAD has gone back and forth during the trading session on Monday, as we continue to chop back and forth against the Canadian dollar.
The USD/CAD has fallen initially during the trading session on Thursday but found buyers underneath the turnaround and form a bit of a hammer.
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The USD/CAD currency pair initially pulled back a bit during the trading session on Tuesday but turned around to show signs of resiliency yet again.
The USD/CAD is trading near the 1.33800 ratios as of this writing in conditions that may be creating speculative questions regarding short-term trends for technical traders.
The USD/CAD has rallied significantly during the trading session on Monday to slam into the 1.3475 handle, an area where we’ve seen a bit of resistance previously.
The US dollar has rallied significantly during the trading session on Friday, as a jobs number came out much hotter than anticipated.
The US dollar has rallied ever so slightly against the Canadian dollar during trading on Wednesday, as we are sitting just above the 200-Day EMA.
The USD/CAD rallied rather significantly during the trading session on Tuesday as we tried to break above the 50-Day EMA.
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The USD/CAD has drifted a little bit lower during the trading session on Friday, as the Canadian dollar continues to show strength.
The USD/CAD is traversing near the 1.33600 ratios as it hovers close to critical mid-term lows.
The USD/CAD has gone back and forth during the trading session on Monday, as we continue to hang around the 1.3350 level.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/CAD dollar has gone back and forth during the trading session on, attempting to stop the bleeding that we’d seen as of late.
The USD/CAD has fallen against the Canadian dollar during trading on Thursday after the CPI numbers came out at 6.5% year-over-year.
The USD/CAD has done very little during trading on Wednesday, as we are waiting for the CPI numbers to come out on Thursday.