Canadian Dollar (CAD)

QUOTE AND NEWS  Oct 2  Comment 
CANBERA (dpa-AFX) - The Canadian dollar drifted higher against most major rivals in European deals on Friday, as oil prices rebounded ahead of U.S. jobs data for September later in the day, while air strikes in Syria weighed. Crude for November...  Oct 1  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar rose further against most major currencies in the Asian session on Thursday. The Canadian dollar rose to an 8-day high of 1.3280 against the U.S. dollar, from yesterday's closing value of 1.3312....  Sep 30  Comment 
CANBERA (dpa-AFX) - The Canadian dollar strengthened against its key counterparts in New York deals on Wednesday, after data showed that the Canadian economy grew more-than-forecast in July. Data from Statistics Canada showed that the GDP rose...  Sep 29  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar weakened against most major currencies in the Asian session on Tuesday. The Canadian dollar fell to 5-day lows of 1.3412 against the U.S. dollar and 89.18 against the yen, from yesterday's closing...  Sep 28  Comment 
OTTAWA (dpa-AFX) - The U.S. dollar edged up against the Canadian dollar in European deals on Monday. The greenback appreciated to a 4-day high of 1.3356 against the loonie, up by 0.29 percent from an early low of 1.3317. The next possible...  Sep 25  Comment 
CANBERA (dpa-AFX) - The Canadian dollar climbed against its most major rivals in European deals on Friday, as oil prices edged up, and European shares climbed on easing worries about the outlook for global economy after the Federal Reserve Chair...  Sep 25  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar trimmed its early losses against the Japanese yen and the euro in pre-European deals on Friday. The loonie bounced off to 90.35 against the yen and 1.4873 against the euro, from its previous lows of 89.92...
Forbes  Sep 24  Comment 
Onshape, a three-year-old company in Boston, claims to be the first 100% cloud-based 3D design software and today announced a fresh $80 million in venture capital, roughly half of which is from new investor Andreessen Horowitz.  Sep 23  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar climbed against most major rivals in European deals on Wednesday, as oil prices rebounded following a data showing fall in crude stock piles last week. Crude for November delivery rose $0.40 to 446.76 per...  Sep 23  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar weakened against most major currencies in the Asian session on Wednesday. The Canadian dollar fell to more than a 2-week low of 90.04 against the yen, from yesterday's closing value of 90.51. Against...


The Canadian Dollar (also known as "Loonie" [1]) is the currency of the Nation of Canada. It is denoted with a leading $, though in an international context the $ is often appended to a "C" to distinguish the currency from other dollars. For example, within the nation of Canada $69 is read "sixty-nine dollars," while in an international context the same value might be written C$69 and read "sixty-nine dollars, Canadian".

The chart at left shows the USD/CAD currency pair; the number of Canadian dollars equivalent to 1 U.S. Dollar (USD).

Forex Markets [1]

Trading Hours

The most active CAD trading hours are from CAD Economic news (7:00AM ET / 12:00 GMT) and US Economic News (8:30AM ET / 13:30 GMT)[1].

Key Currency Crosses

The 3 key currency crosses are

Things to know when trading the Canadian Dollar (CAD)

The prices of oil have enormous influence on USD/CAD because Canada is one of the world’s largest oil producers. Therefore when oil prices rise, it tends to drive the Canadian dollar higher and vice versa

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The 10 year chart of Oil vs. USD/CHF (inverted). The USD/CHF has been declining behind Oil price from Jul 2008 to Dec 2008. USD/CHF started to rise and exceed Oil price at the start of 2009

Nickname – The Canadian dollar frequently known as the “loonie.” This nickname comes from the image of a common loon, a well-known Canadian bird on one side of a one dollar Canadian coin.

Central Bank - The Bank of Canada conducts monetary policy meetings 8 times a year and their decisions on interest rates could have significant ramifications for the currency market. Mark Carney is currently the Bank of Canada Governor. He was appointed to the 7 year term in February 2008.

Most Active Trading Hours – We tend to see the most significant volatility in the Canadian dollar when Canada economic data is released which is usually at 7am ET (12:00 GMT) or 8:30am ET (13:30 GMT)

What Does the Economy Rely On? – Like many other major developed nations, the service sector in Canada makes up the largest percentage of GFT. However Canada is also one of the world’s few net exporters of energy and most important supplier of agricultural products. They also have the world’s second largest oil reserves.

Who Does the Economy Rely on for Trade? – Due to the geographical proximity, Canada’s most important trade partner is the United States, followed by the United Kingdom and China.

Market Moving Economic Releases – Central bank rate decisions are usually the most market moving indicators, which mean that they can create the greatest volatility for any currency followed by the employment report, the consumer spending and inflation reports.

The Canadian Economy

Key Facts

The Canadian Economy is comprised of 69.6% Services, 28.4% Industrial, and 2% Agriculture. It's largest trading partners are US, UK and China. Some other key facts about the Canadian Economy:

  1. US Consumes 80% of Canadian Exports
  2. Ninth Largest Oil Exporter
  3. Seventh Most Traded Currency
  4. Ninth Largest Economy in the World
  5. Large Logging and Oil Industries

General Economic Statistics

2008 GDP EstimateUSD $1.56 Trillion
Population:33.5 Million
Interest Rate*0.25%
Trade Balance***CAD $1.10 Billion

Market Moving Economic Releases

  1. BoC Rate Decision
  2. IVEY PMI (Purchasing Managers Index)
  3. Retail Sales
  4. Consumer Prices
  5. Employment Change
  6. GDP (Gross Domestic Product)
  7. Trade Balance


  1. 1.0 1.1 1.2, Japanese Yen (JPY) Factsheet by Kathy Lien
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