Canadian Dollar (CAD)

QUOTE AND NEWS
Channel News Asia  4 hrs ago  Comment 
Another penny stock company, Annica Holdings, has come under scrutiny of the Commercial Affairs Department (CAD).
newratings.com  5 hrs ago  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar traded higher against most major currencies on Friday, after the release of nation's upbeat jobs data for March. The latest data from Statistics Canada showed that the economy added 43,000 jobs in...
Cloud Computing  8 hrs ago  Comment 
Research and Markets (http://www.researchandmarkets.com/research/kgb86c/cad_market_in) has announced the addition of the "CAD Market in China 2014-2018" report to their offering. read more
DailyFinance  Apr 4  Comment 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/03/14 -- A report released today by BC Stats, shows that British Columbia's technology sector continues to make progress as provincial economic leader. The report outlines how our sector...
DailyFinance  Apr 3  Comment 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/03/14 -- A report released today by BC Stats, shows that British Columbia's technology sector continues to make progress as provincial economic leader. The report outlines how our sector has...
DailyFinance  Apr 3  Comment 
SCOTTSDALE, AZ -- (Marketwired) -- 04/03/14 -- Informative Graphics Corp. (IGC™) announces the latest release of its Brava!® Enterprise universal viewer for Alfresco One. This release provides a tighter integration of Brava to Alfresco, making...
DailyFinance  Apr 3  Comment 
PALO ALTO, CA -- (Marketwired) -- 04/03/14 -- CardioDx, Inc., a molecular diagnostics company specializing in cardiovascular genomics, today announced interim results of a registry study examining the use of the Corus® CAD gene...
newratings.com  Apr 3  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar strengthened against the euro in the European session on Thursday. The loonie that closed yesterday's deals at 1.5190 against the euro climbed to a 6-day high of 1.5156. If the loonie extends its...
The Economic Times  Apr 3  Comment 
There has been an improvement in various macro indicators such as inflation & CAD, and experts expect the show to continue.




RELATED WIKI ARTICLES
 

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%
Inflation**1.20%
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

References

  1. 1.0 1.1 1.2 FX360.com, Japanese Yen (JPY) Factsheet by Kathy Lien
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