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
USD/CAD pulls back below 1.44, with bullish momentum remaining strong as traders watch for buying opportunities amid Canada’s economic challenges.
The USD/CAD is within sight of highs from the climatic days of coronavirus in March and April of 2020, this time around it is because financial institutions are nervous about economic ramifications via the incoming Trump White House.
The USD/CAD pair climbs as the Bank of Canada’s rate cut weakens the loonie, with key levels at 1.42 and 1.45 signaling potential bullish momentum.
Top Forex Brokers
USD/CAD remains range-bound, battling resistance at 1.42 and eyeing 1.45, with support at 1.40 offering a strong bullish base.
USD/CAD climbs near 1.42, with BoC rate cuts and dovish sentiment poised to drive further Loonie weakness toward 1.46 resistance.
The US dollar outpaces the Canadian dollar, driven by economic strength and mixed job data, with buying opportunities emerging on short-term pullbacks.
USD/CAD remains range-bound near 1.40, with Friday's US and Canadian jobs data expected to drive momentum toward key levels at 1.39 or 1.41.
During my daily analysis of the USD/CAD pair, the first thing that captures my attention is the 1.40 level below.
USD/CAD grinds higher, supported at 1.40, with a potential test of 1.42 resistance as inflation and PMI data favor the US dollar over the loonie.
Bonuses & Promotions
The US dollar strengthens against the Canadian dollar, nearing four-year highs, as Canada's economy feels the strain of reduced US demand.
USD/CAD pulls back from resistance near 1.42, with key support at 1.40 and Canadian GDP data likely to influence short-term direction.
During the Monday session, we saw the US dollar initially fall, only to turn around and show signs of life and break to the upside. e
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.During my daily analysis of the USD/CAD pair, the market looks as if it is trying to find its bottom, after a short-term pullback.
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.