Canadian Dollar (CAD)

Yahoo  Nov 19  Comment 
A series of fashion misses, particularly in women's merchandise, have turned shoppers away from the Gap brand toward competitors such as American Eagle Outfitters Inc (AEO.N), H&M, Forever 21 and Inditex's (ITX.MC) Zara. The strengthening of the...  Nov 17  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar advanced against the U.S. dollar and the Japanese yen in European morning deals on Tuesday. The loonie climbed to 1.3312 against the greenback, off its prior low of 1.3344. The loonie firmed to a 5-day high...
The Economic Times  Nov 17  Comment 
Trade deficit in the first seven months of the current fiscal (April-October) has shrunk to $77.76 billion as against $86.26 billion last fiscal.
TechCrunch  Nov 16  Comment 
 There are a lot of businesses that utilize mobile workers these days. Normally deskbound workers have become mobile workers as companies mobilize their workforces and, often, save on property costs. In this field, Jobber, has now secured a $8...  Nov 13  Comment 
CANBERA (dpa-AFX) - The Canadian dollar weakened against most major currencies in the late Asian session on Friday. The Canadian dollar fell to 1.3311 against the U.S. dollar and 92.17 against the yen, from early highs of 1.3280 and 92.37,...  Nov 12  Comment 
CANBERA (dpa-AFX) - The Canadian dollar drifted lower against most major currencies in early New York trading on Thursday, as oil prices fell after OPEC maintained its outlook for global oil demand growth in 2015 and 2016. Crude for December...  Nov 12  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar strengthened against most major currencies in the Asian session on Thursday. The Canadian dollar rose to a 6-day high of 1.3225 against the U.S. dollar, from yesterday's closing value of 1.3258. The...  Nov 11  Comment 
CANBERA (dpa-AFX) - The Canadian dollar weakened against most major currencies in the Asian session on Wednesday, as crude oil prices fell after the industry group American Petroleum Institute reported an increase in U.S. crude oil...  Nov 11  Comment 
CANBERA (dpa-AFX) - The Canadian dollar weakened against most major currencies in the Asian session on Wednesday. The Canadian dollar fell to a 2-day low of 92.61 against the yen, from yesterday's closing value of 92.76. Against the euro...  Nov 10  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar continued to be higher against its European counterpart in European deals on Tuesday. The loonie rose to a 3-1/2-month high of 1.4197 against the euro, compared to Monday's closing value of 1.4284. On...


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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