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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The USD/CAD has fallen rather hard, losing over 1% for the session.
The USD/CAD is trading near 1.36000 as of this writing with rather a fast price action being demonstrated.
The USD/CAD has rallied against the Canadian dollar again as the crude oil market felt rather hard during the trading session on Wednesday.
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The USD/CAD continues to hang around the 50-Day EMA against the Canadian dollar, focusing on the $1.35 level.
The USD/CAD has done very little during the trading session on Wednesday, as we continue to hang around the 1.36 level.
The USD/CAD initially tried to break out to the upside during the trading session on Tuesday but gave up gain again near the 1.37 level.
The USD/CAD has pulled back just a bit during the trading session on Monday, as we continue to see a lot of noise.
The USD/CAD is near the 1.36400 juncture as of this writing, this morning’s high was near 1.36800 but Friday’s high traversed over the 1.37000 ratios.
The USD/CAD has gone back and forth during the trading session on Wednesday as the market may be running into a little bit of exhaustion.
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The USD/CAD rallied a bit during the trading session on Tuesday to break higher yet again, above the 1.36 level.
The USD/CAD has initially fallen against the Canadian dollar, breaking below the 50-Day EMA.
The USD/CAD has rallied a bit during the trading session on Friday as the US jobs never came in a little stronger than anticipated.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/CAD has gone back and forth during trading on Thursday as we continue to see a lot of volatility in the markets.
The USD/CAD has pulled back just a bit during the trading session on Wednesday as the crude oil market has rallied somewhat.
Violent trading developed in the USD/CAD yesterday as a high of about 1.36400 was flirted with momentarily.