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 initially tried to rally a bit during the trading session on Wednesday but has found more selling pressure as the downtrend continues.
The USD/CAD continues to remain near important mid-term support levels and sustained lower prices may prove attractive to speculative bears.
The USD/CAD initially pulled back just a bit during the early hours on Tuesday but has turned around to show signs of life again.
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The Bank of Canada kept the Overnight Rate in place yesterday and the USD/CAD continued its higher near-term trajectory.
The US dollar initially fell against the Canadian dollar during trading on Wednesday session.
The USD/CAD remains within sight of lows created early yesterday, and important Canadian growth data today which may factor into the currency pair awaits.
The USD/CAD is within the higher elements of its near-term range, but nervous conditions are evident as important U.S inflation statistics are on the schedule.
The USD/CAD is trading near the 1.38200 level and appears rather calm, but volatility could erupt today and tomorrow as Canadian and U.S data and rhetoric stir Forex.
The USD/CAD initially pulled back a bit during the early trading session on Wednesday, only to turn around and show strength near the 1.36 level.
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The USD/CAD has mirrored the results of many major currency pairs as its move lower the past couple of days have run into rather strong support as choppy results flourish the past handful of hours.
The USD/CAD hit a low in early trading this morning near the 1.35690 ratio, a reversal higher has taken place since then and traders should anticipate a rather tentative day of results.
The USD/CAD had another very strong trading session on Monday to kick off yet another bullish week.
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Sign up to get the latest market updates and free signals directly to your inbox.Fresh long-term highs have been made in the USD/CAD in early trading this morning, as the currency pair mirrors widespread Forex sentiment while the USD continues to create volatility.
The USD/CAD has produced a rise in near-term values after testing lows last week, this as nervous market sentiment lingers and Forex remains challenging.
The past week and a half of trading in the USD/CAD has seen a sustained decline, this as the U.S. Federal Reserve prepares to make its pronouncements tomorrow.