Canadian Dollar (CAD)

QUOTE AND NEWS
newratings.com  Jun 23  Comment 
CANBERA (dpa-AFX) - The Australian dollar extended its early decline against the U.S. and Canadian dollars in New York morning deals on Tuesday. The aussie fell to a 6-day low of 0.7685 against the greenback and a 4-day low of 0.9485 against the...
newratings.com  Jun 22  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar drifted higher against the Japanese yen in European deals on Monday. The loonie advanced to 100.63 against the yen, compared to Friday's closing value of 99.92. The loonie-yen pair is likely to find...
newratings.com  Jun 22  Comment 
CANBERA (dpa-AFX) - The euro strengthened against the other major currencies in the Asian session on Monday. The euro rose to nearly a 2-week high of 1.3969 against the Canadian dollar and a 4-day high of 1.4649 against the Australian dollar,...
newratings.com  Jun 19  Comment 
CANBERA (dpa-AFX) - The Canadian dollar moved down on Friday, after data showed that the nation's retail sales fell unexpectedly in April, primarily driven by lower sales at food and beverage stores as well as electronics and appliance...
newratings.com  Jun 18  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar strengthened against most major currencies in the early European session on Thursday, as oil prices rose amid a weaker dollar after the Federal Reserve sounded more dovish than many had expected. Crude oil...
newratings.com  Jun 17  Comment 
CANBERA (dpa-AFX) - The Canadian dollar drifted higher against most major currencies in early New York deals on Wednesday, as oil prices advanced after data from the American Petroleum Institute showed bigger-than-expected decline in crude oil...
newratings.com  Jun 17  Comment 
OTTAWA (dpa-AFX) - Reversing direction, the Canadian dollar weakened against the U.S. dollar and the euro in European morning deals on Wednesday. The loonie dropped to 1.3893 against the euro and 1.2327 against the greenback, off early...




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


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%
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
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