Canadian Dollar (CAD)

QUOTE AND NEWS
StreetInsider.com  8 hrs ago  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Stratasys+%28SSYS%29+to+Acquire+3-D+CAD+Cloud+Collaboration+Provider%2C+GrabCAD/9835208.html for the full story.
newratings.com  Sep 12  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar fell against its most major rivals in New York deals on Friday, as investor sentiment declined after the U.S. retail sales data for August and on EU imposing strengthened sanctions against Russia. Traders...
newratings.com  Sep 12  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar drifted lower against the euro and the U.S. dollar in European deals on Friday. The loonie declined to an 8-day low of 1.4321 against the euro, while reaching 1.1075 against the greenback, its lowest since...
DailyFinance  Sep 12  Comment 
Intrawest Resorts Holdings, Inc. (NYSE:SNOW), a leading North American mountain resort and adventure company, today announced that it has negotiated and entered into a definitive agreement to acquire the 50% interest in Blue...
Forex News  Sep 11  Comment 
The latest housing starts data was a bit disappointing, and the result offset some of the better news out of Canada about building permits. Concerns about the housing market continue to weigh, and the continued pressure on oil prices...
Commodity Online  Sep 11  Comment 
Government had raised the import duty on the yellow metal last year to 10% to control overseas purchases and help trim the widening current account deficit last year. The CAD plunged sharply to a comfortable level of 1.7% of GDP in the April-June...
Forex News  Sep 10  Comment 
The Canadian dollar bounced today, trimming yesterday’s losses versus its US peer and the euro. The currency also extended its rally versus the Japanese yen for a third straight session.(...)Read the rest of Canadian Dollar Bounces, Rises...
newratings.com  Sep 9  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar dropped against most major rivals in New York morning deals on Tuesday. The loonie slipped to a 5-day low of 1.4206 against euro, while touching 1.1023 against the greenback, its lowest since April 29. The...




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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