Canadian Dollar (CAD)

Forex News  Dec 2  Comment 
The Canadian dollar rose against most of its major peers (with the exception of the Japanese yen) with the help of rather positive employment data released from Canada over the trading session. Unlike the US employment report, Canadian...
Forex News  Dec 1  Comment 
The Canadian dollar continued to rally against its major rivals today, demonstrating especially big gains against the weak US dollar, as the OPEC oil production cut propelled oil prices higher. Yesterday’s deal to reduce oil output...
Forex News  Nov 30  Comment 
The Canadian dollar rose against the euro on Wednesday, as a surge in oil prices supported the currency of the oil exporting nation. The Organization of the Petroleum Exporting Countries concluded a meeting in Vienna today, which was...  Nov 29  Comment 
CANBERA (dpa-AFX) - Reversing direction, the Canadian dollar weakened against most major opponents in early European deals on Tuesday. The loonie edged down to 1.4264 against euro, 1.0062 against the aussie and 1.3441 against the greenback, from...
Forex News  Nov 28  Comment 
The Canadian dollar rallied against most of major peers on Monday, tracking the rise of crude oil prices. There is a decent probability, though, that the crude’s rally will fizzle soon, dragging the loonie down. Crude oil futures...  Nov 28  Comment 
CANBERA (dpa-AFX) - The euro strengthened against most major currencies in the Asian session on Monday. The euro rose to nearly a 2-week high of 1.0685 against the U.S. dollar, nearly a 3-week high of 1.0770 against the Swiss franc and nearly a...  Nov 25  Comment 
CANBERA (dpa-AFX) - The Canadian dollar declined against its major counterparts in early European trading on Friday, as oil prices fell on uncertainty over the planned output cut by the OPEC, which will be decided in Vienna next week. Investors...  Nov 25  Comment 
CANBERA (dpa-AFX) - The Canadian dollar drifted lower against most major opponents in pre-European trading on Friday. The loonie declined to an 8-day low of 1.0052 against the aussie, off its early high of 0.9984. The loonie retreated to 1.4276...
OilVoice  Nov 24  Comment 
Connacher Oil and Gas Limited announces its financial and operating results for the three and nine months ended September 30 2016 all amounts are in Canadian dollars unless otherwise noted. Financ  Nov 22  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar strengthened against most major currencies in the Asian session on Tuesday. The Canadian dollar rose to 1.3397 against the U.S. dollar and 82.70 against the yen, from yesterday's closing quotes of...


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

Error creating thumbnail
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
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki