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 US dollar has fallen a bit against the Canadian dollar during the trading session on Wednesday, as we continue to see a lot of volatility.
The US dollar initially fell during the trading session on Monday but has seen buyers step in to pick it up near the 1.3725 CAD level.
It looks to me like the US dollar is going to continue to climb against the Canadian dollar.
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The US dollar initially pulled back just a bit during the trading session on Thursday, only to turn around and show signs of strength and break above the 1.37 level.
The USD/CAD has delivered a dynamic price range the past handful of days.
The US dollar has rallied rather significantly against the Canadian dollar during the trading session on Friday.
The Friday session should be very interesting for the USD/CAD pair as the day will feature both the American and Canadian employment figures.
The USD/CAD is actually trading within a lower price range than the one it occupied last week.
The US dollar rallied rather significantly during the trading session on Monday, as the 50-Day EMA offered significant support.
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The USD/CAD is near the 1.35935 price as of this writing and continues to show an ability to incrementally climb higher.
The US dollar has fallen a bit against the Canadian dollar during the trading session on Tuesday.
The Canadian dollar seems to be on its back foot.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/CAD touched a high of nearly 1.36135 yesterday in the wake of the interest rate hike from the Bank of Japan.
The US dollar has shot straight up in the air against the Loonie during trading session on Tuesday as the 1.3620 level is now being threatened.
The US dollar has initially fallen during the trading session on Thursday, only to turn around and show signs of life again.