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 rallied ever so slightly against the Canadian dollar during trading on Wednesday, as we are sitting just above the 200-Day EMA.
The USD/CAD rallied rather significantly during the trading session on Tuesday as we tried to break above the 50-Day EMA.
The USD/CAD has drifted a little bit lower during the trading session on Friday, as the Canadian dollar continues to show strength.
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The USD/CAD is traversing near the 1.33600 ratios as it hovers close to critical mid-term lows.
The USD/CAD has gone back and forth during the trading session on Monday, as we continue to hang around the 1.3350 level.
The USD/CAD dollar has gone back and forth during the trading session on, attempting to stop the bleeding that we’d seen as of late.
The USD/CAD has fallen against the Canadian dollar during trading on Thursday after the CPI numbers came out at 6.5% year-over-year.
The USD/CAD has done very little during trading on Wednesday, as we are waiting for the CPI numbers to come out on Thursday.
The USD/CAD has fallen rather hard, losing over 1% for the session.
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The USD/CAD is trading near 1.36000 as of this writing with rather a fast price action being demonstrated.
The USD/CAD has rallied against the Canadian dollar again as the crude oil market felt rather hard during the trading session on Wednesday.
The USD/CAD continues to hang around the 50-Day EMA against the Canadian dollar, focusing on the $1.35 level.
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The USD/CAD initially tried to break out to the upside during the trading session on Tuesday but gave up gain again near the 1.37 level.
The USD/CAD has pulled back just a bit during the trading session on Monday, as we continue to see a lot of noise.