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 trades near 1.38 as dollar strength weighs on the Loonie, with traders eyeing key EMA levels and upcoming jobs data for the next decisive move.
The US dollar bounced against the Canadian dollar on Labor Day, with technical support holding as Canada’s weak exports and reliance on US growth weighed on the loonie.
USD/CAD slipped to test 1.3750 support, but with the interest rate differential favoring the greenback, a breakout above 1.38 could trigger further upside momentum.
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USD/CAD rallied above the 200-Day EMA, with buy-the-dip sentiment aiming for 1.40 while Powell’s Jackson Hole speech could spark volatility.
The US dollar remains choppy against the Canadian dollar near 1.38, with weak Canadian fundamentals and key EMA levels guiding short-term direction.
The US dollar holds firm against the Canadian dollar above 1.3750, with EMAs shaping support and resistance as trade tensions fuel volatility.
USD/CAD trades just above 1.3750 ahead of Tuesday’s US CPI, with a hot reading favoring a move toward 1.3882 and weaker data risking a slide to 1.3550.
USD/CAD hovers near 1.3750 support-turned-resistance after soft Canadian jobs data, with the 50-day EMA and rate gap favoring further USD gains.
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The US dollar is pulling back against the Canadian dollar as USD/CAD tests the 50-Day EMA, with Friday’s Canadian jobs data expected to drive the next big move.
USD/CAD remains range-bound between key EMAs as traders await Canadian employment data, with a breakout above 1.38 and the 200-day EMA signaling bullish momentum.
The USD/CAD pair is hovering near key technical levels as traders brace for Canadian employment data, with 1.39 resistance and 1.3550 support defining the next breakout path.
The USD/CAD pair extends its rally as US dollar momentum strengthens ahead of the US jobs report, while Canadian trade headwinds mount.
The US dollar strengthened against the Canadian dollar following the Bank of Canada's rate hold, with traders now focused on the FOMC press conference for next steps.
The US dollar surged against the Canadian dollar on Tuesday, with markets eyeing the Fed and BoC decisions, and technical levels around 1.38 as key breakout points.