Canadian Dollar (CAD)

QUOTE AND NEWS
The Times of India  Sep 26  Comment 
he Supreme Court's decision to cancel coal block allocations may have a "marginal" impact on Current Account Deficit and the net burden on CAD would be an additional increase of $700 million, says a report.
SeekingAlpha  Sep 25  Comment 
By Michael Grogan: Traditionally, the Canadian Dollar has been thought to be significantly affected by oil prices. In a country with significant oil revenue, an increase in oil prices would appear to lead to an appreciation of the CAD. Conversely,...
TechCrunch  Sep 24  Comment 
 When Japanese police arrested Yoshitomo Imura for printing his own revolvers, 3D printing advocates in some circles were up in arms. The guns, which only fired blanks, were simple test models called the Zig-Zag. Now, in honor of Imura’s work...
newratings.com  Sep 24  Comment 
CANBERA (dpa-AFX) - The Canadian dollar slipped against its major rivals in New York morning deals on Wednesday. The loonie hit a session's low of 1.4246 against the euro, off early high of 1.4198. The loonie slipped to 1.1116 against the...
newratings.com  Sep 23  Comment 
CANBERA (dpa-AFX) - The Canadian dollar fell back against the euro and U.S. dollar on Tuesday, as the nation's retail sales declined unexpectedly in July. Data from Statistics Canada showed that Canadian retail sales fell 0.1 percent to...
Reuters  Sep 23  Comment 
Deutsche Rohstoff AG : * Says sale of Wolfram Camp mine completed * Says sales price of C$ 18 million * Says sold all shares of the 100% owned subsidiaries Wolfram Camp Mining...
newratings.com  Sep 23  Comment 
CANBERA (dpa-AFX) - The Canadian dollar is lower in the Asian session on Tuesday, extending its slide from overnight trading after Bank of Canada Deputy Governor Carolyn Wilkins remarked that the bank sees 'neutral' interest rates to be...
newratings.com  Sep 22  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar continued its early slide against the Japanese yen in European deals on Monday. The loonie hit a 4-day low of 99.00 against the yen, off early high of 99.64. The loonie may find support around the 98.0...
The Economic Times  Sep 22  Comment 
In the quarter ended June, CAD, which indicates imports of goods services and transfer are higher than their exports, stood at $7.8 billion, or 1.7 per cent of GDP.




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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