USD/CAD Exchange Rate

 

The USDCAD pair retains bull pressure as it looks for further corrective recovery. The USD/CAD spiked into two-week highs following the US Fed’s rate hike on Wednesday, testing /

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The USD/CAD is one of the three so-called “commodity pairs”, together with AUD/USD, NZD/USD. These pairs are highly correlated to commodity (especially oil) fluctuations. Canada is commonly.

By continuing to use this website, you agree to our use of cookies. You can learn more about our cookie policy here , or by following the link at the bottom of any page on our site. Find out the fundamentals that look likely to drive future price action. The favorable winds from a NAFTA breakthrough pushing trade war sails seems to have already hit the irons.

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Results achieved on the demo account are hypothetical and no representation is made that any account will or is likely to achieve actual profits or losses similar to those achieved in the demo account. Conditions in the demo account cannot always reasonably reflect all of the market conditions that may affect pricing and execution in a live trading environment. The Canadian Dollar is often considered a 'Commodity Currency' due to the large deposits of natural resources, especially Oil that is mined and exported from Canada; particularly with their neighbor to the south.

E-Mail Please enter valid email. Canada and Japan are at the extreme ends of production and consumption of oil. While Canada benefits from higher oil prices, Japan's economy can suffer because it imports nearly all of the oil it consumes. This is another interesting correlation to follow. Its president is Stephen Poloz. Canadian Government headed by Justin Trudeau and its Department of Finance whose minister is Bill Morneau that implement policies that affect the economy of the country.

Canada being a prominent oil and natural gas producer, the trade organization of that industry is very important. In the USA, we have: The Fed controls the monetary policy, through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.

In terms of economic data, we should highlight the Trade Account Balance , a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit.