USD/CAD

The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD). The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar. For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars. The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh most traded currency. The United States and Canada are geographical neighbors, and as a result there is a lot of trade between the two countries. Thus, there is often decent volatility and low spreads for the USD/CAD, typically between 1 and 3 pips on most foreign exchange brokers. Factors Influencing the USD/CADThere are a number of important economic or news releases that can affect the USD/CAD. This includes among others, Non-Farm Payroll data for the US that are released on the first Friday of each month. Such metrics tell us whether employment is rising or falling, while the Gross Domestic Product (GDP) for Canada or the US, measure the total value of all goods and services produced by the country. In addition, the USD/CAD is known as a “Commodity Pair”, as Canada possesses large amounts of natural resources, specifically oil, which is its most traded commodity. As a result, it’s important for long term speculators of USD/CAD to keep a close eye on crude oil developments due to the strong negative correlation.
The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD). The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar. For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars. The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh most traded currency. The United States and Canada are geographical neighbors, and as a result there is a lot of trade between the two countries. Thus, there is often decent volatility and low spreads for the USD/CAD, typically between 1 and 3 pips on most foreign exchange brokers. Factors Influencing the USD/CADThere are a number of important economic or news releases that can affect the USD/CAD. This includes among others, Non-Farm Payroll data for the US that are released on the first Friday of each month. Such metrics tell us whether employment is rising or falling, while the Gross Domestic Product (GDP) for Canada or the US, measure the total value of all goods and services produced by the country. In addition, the USD/CAD is known as a “Commodity Pair”, as Canada possesses large amounts of natural resources, specifically oil, which is its most traded commodity. As a result, it’s important for long term speculators of USD/CAD to keep a close eye on crude oil developments due to the strong negative correlation.

The USD/CAD is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Canadian dollar of Canada (symbol $ code CAD).

The pair’s exchange rate indicates how many Canadian dollars are needed in order to purchase one US dollar.

For example, when the USD/CAD is trading at 1.3500, it means 1 US dollar is equivalent to 1.35 Canadian dollars.

The US dollar (USD) is the world’s most traded currency, whilst the Canadian dollar (CAD) is the world’s seventh most traded currency.

The United States and Canada are geographical neighbors, and as a result there is a lot of trade between the two countries.

Thus, there is often decent volatility and low spreads for the USD/CAD, typically between 1 and 3 pips on most foreign exchange brokers.

Factors Influencing the USD/CAD

There are a number of important economic or news releases that can affect the USD/CAD.

This includes among others, Non-Farm Payroll data for the US that are released on the first Friday of each month.

Such metrics tell us whether employment is rising or falling, while the Gross Domestic Product (GDP) for Canada or the US, measure the total value of all goods and services produced by the country.

In addition, the USD/CAD is known as a “Commodity Pair”, as Canada possesses large amounts of natural resources, specifically oil, which is its most traded commodity.

As a result, it’s important for long term speculators of USD/CAD to keep a close eye on crude oil developments due to the strong negative correlation.

Technical Analysis

USDCAD sellers push lower but fall stalls at earlier low and retracement target

USDCAD

USDCAD sellers push lower but fall stalls at earlier low and retracement target

  • The 38.2% of the last trend move higher is stalling the fall at 1.3333 level
Greg Michalowski
Greg Michalowski
Thursday, 03/08/2023 | 16:00 GMT-0
03/08/2023 | 16:00 GMT-0
Technical Analysis

USDCAD tumbles in trading today. Higher oil helps to support the CAD.

USDCAD

USDCAD tumbles in trading today. Higher oil helps to support the CAD.

  • The USDCAD falls below 100/200 hour MA again
Greg Michalowski
Greg Michalowski
Monday, 31/07/2023 | 15:16 GMT-0
31/07/2023 | 15:16 GMT-0
Technical Analysis

USDCAD falls back below the 100/200 hour MAs and that tilts the bias back down

USDCAD

USDCAD falls back below the 100/200 hour MAs and that tilts the bias back down

  • The ups and downs continue in the USDCAD to start the new trading week
Greg Michalowski
Greg Michalowski
Monday, 24/07/2023 | 16:28 GMT-0
24/07/2023 | 16:28 GMT-0
Technical Analysis

USDCAD tests 200 hour MA at 1.3270. Barometer for buyers and sellers.

USDCAD

USDCAD tests 200 hour MA at 1.3270. Barometer for buyers and sellers.

  • The MA is a key barometer for buyers and sellers
Greg Michalowski
Greg Michalowski
Monday, 10/07/2023 | 14:36 GMT-0
10/07/2023 | 14:36 GMT-0
Technical Analysis

USDCAD runs higher to test the 38.2%, but backs off. What next?

USDCAD

USDCAD runs higher to test the 38.2%, but backs off. What next?

  • The 38.2% of the move down from the May 25 high was broken at 1.33213, but the sellers came back in
Greg Michalowski
Greg Michalowski
Thursday, 06/07/2023 | 13:34 GMT-0
06/07/2023 | 13:34 GMT-0
See more
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}