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 continues to weaken against the Canadian dollar as oil rises and risk appetite returns. Key support at 1.3425 could decide the pair’s next direction.
USD/CAD wavers as US CPI softens and trade talks stall. Watch for a break above 1.3750 to extend gains or a drop below 1.36 toward 1.3429 support.
The US dollar slid against the Canadian dollar on Wednesday as disappointing US economic data pressured the greenback ahead of key jobs reports from both countries.
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After an early selloff on weak US data, USD/CAD found support at 1.37, forming a potential hammer as dollar strength re-emerges across major pairs.
The US dollar dropped sharply against the Canadian dollar after disappointing US GDP data, with USD/CAD testing critical 1.37 support amid long-term trend uncertainty.
USD/CAD is testing a key resistance near 1.40 following a 3-bar reversal, but a breakdown below 1.37 could trigger broader USD weakness across FX markets.
The USD/CAD pair is at a critical turning point as a rebound from oversold conditions challenges resistance, with Fed tightness supporting the dollar and loonie softness persisting.
During the trading session on Monday, we saw the USD/CAD pair drop, but it has bounced enough to form a bit of a hammer. However, keep in mind that it was Memorial Day in the United States, so at least New York wasn’t involved at this point in time. The Canadian market itself isn’t big enough to really move things, so that explains why we had a fairly tight range for the session. The 1.37 level seems to be an area that is pushing back against some of the selling pressure.
USD/CAD finds support at 1.39. Choppy trading likely, but bulls eye 1.42 if resistance at EMAs is cleared.
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The US dollar bounced off the 1.39 level against the Canadian dollar on Wednesday, with momentum building amid stalled US-Canada trade talks and USD resilience.
USD/CAD reversed Tuesday after testing the 200-day EMA, with 1.3750 offering near-term support as the pair consolidates in a range amid lingering US-Canada trade uncertainty.
The USD/CAD pair is bouncing strongly as the US dollar gains on trade optimism and Canada's economic underperformance, with technicals pointing to a potential rise toward 1.42.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/CAD pair is holding at key support as traders await FOMC commentary, with 1.39 acting as a major breakout point.
The US dollar declined against the Canadian dollar on Tuesday amid trade talk stagnation and pre-FOMC caution, with 1.39 remaining a key resistance level.
USD/CAD continues to trade sideways between 1.3700 and 1.4000, with traders awaiting a breakout for clarity amid tariff risks and post-election uncertainty.