Canadian Dollar (CAD)

QUOTE AND NEWS
OilVoice  Nov 20  Comment 
Shoreline Energy Corp. TSXSEQ announce that it has closed the sale of its Wattenburg working interest assets for net proceeds of US4.1 million approximately 4.65 million Canadian Dollars based o
newratings.com  Nov 20  Comment 
CANBERA (dpa-AFX) - The Canadian dollar strengthened against most major currencies in European deals on Thursday, as oil prices rebounded ahead of the OPEC meeting next week. Crude for January delivery rose $0.21 to $74.71 per barrels. OPEC, or...
The Economic Times  Nov 18  Comment 
Exports at $26.1 billion contracted for the first time in five months -- across petroleum products, engineering goods, gems and jewellery.
newratings.com  Nov 18  Comment 
CANBERA (dpa-AFX) - The Canadian dollar strengthened against the other major currencies in the Asian session on Tuesday. The Canadian dollar rose to a 5-day high of 0.9824 against the Australian dollar, from an early low of 0.9852. At...
Commodity Online  Nov 18  Comment 
Gold imports for FY15 are likely to touch 800 tonnes and ndash; higher than 653.5 tonnes last fiscal. Oil prices are likely to average $100-105 per barrel (Brent) in FY15.
Reuters  Nov 13  Comment 
(Corrects headline and paragraphs 1 and 3 to show the figures are in Canadian dollars, not U.S. dollars)
Forex News  Nov 13  Comment 
Canadian dollar is holding to gains made yesterday, following the announcement of positive employment news. Loonie is managing to hold its own a bit better now that oil prices seem to have stabilized somewhat, and with economic data...
newratings.com  Nov 12  Comment 
OTTAWA (dpa-AFX) - Reversing direction, the U.S. dollar declined against the Canadian dollar in European deals on Wednesday. The greenback weakened to a 2-day low of 1.1305 against the loonie, off early high of 1.1358. Continuation of the...
newratings.com  Nov 12  Comment 
OTTAWA (dpa-AFX) - The euro traded higher against the Swiss franc and the Canadian dollar in late Asian deals on Wednesday. The euro approached 5-day highs of 1.2038 against the franc and 1.4167 against the loonie, compared to yesterday's...
newratings.com  Nov 11  Comment 
CANBERA (dpa-AFX) - The Canadian dollar traded lower against its most major rivals on Tuesday, as crude oil prices extended decline ahead of weekly inventories data. The American Petroleum Institute will come out with its crude inventory data...




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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