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 pair remains volatile as dollar weakness pressures support at 1.3550, with key levels at 1.38 and 1.3350 likely to dictate the next directional move.
The US dollar softened against the Canadian dollar on Monday, staying within a well-defined 1.3550–1.3800 range amid light summer volume and stalled trade talks.
The US dollar is attempting a breakout against the Canadian dollar, supported by a double bottom at 1.3550 and resistance at 1.38, with a 1.39 target in view.
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The US dollar gained ground against the Canadian dollar on Thursday, breaching the 50-Day EMA and threatening a breakout above the key 1.38 resistance level.
The US dollar tested strong resistance at 1.3750 against the Canadian dollar amid Powell firing rumors, with bulls eyeing a breakout toward 1.39.
USD/CAD pulled back after testing the 50-day EMA near 1.38, with support at 1.3550–1.35 now critical as tariff concerns and broader USD sentiment take center stage.
USD/CAD may be forming a double bottom at 1.3550, with a breakout above 1.3750 potentially fueling a rally toward 1.3920 amid favorable US rate differentials.
USD/CAD rallied strongly on Wednesday, with technical focus on a potential double bottom near 1.3550 and bullish momentum targeting a break above 1.3760.
The US dollar bounced against the Canadian dollar in thin holiday trading, forming a potential double bottom at 1.3550 with focus on interest rate and EMA resistance.
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After an initial rally, the US dollar fell sharply against the Canadian dollar on Thursday, with focus shifting to the 1.35–1.34 range amid Fed speculation.
The USD/CAD pair declined as Canadian tariff news eased tensions, while traders await key US jobs data to determine the next major price move.
The USD/CAD pair rallied toward 1.3750, showing bullish momentum despite overall dollar weakness, with a potential breakout targeting the 1.39 level.
The US dollar edged lower against the Canadian dollar following Israel-Iran ceasefire news. Traders eye 1.3700 and the 50-day EMA as geopolitical and macroeconomic factors drive price action.
USD/CAD stalls below 1.38 as traders weigh geopolitical risks and technical resistance. Watch for moves above the 50-day EMA or a retest of the 1.3550 support.
The USD/CAD pair edged higher despite the US Juneteenth holiday, with buyers targeting 1.39. Tariffs and Fed-BOC divergence could fuel more gains.