Canadian Dollar (CAD)

Benzinga  Oct 8  Comment 
PTC Inc (NASDAQ: PTC) shares are down 8 percent year-to-date, declining steadily after hitting a high of $42.53 on June 22. KeyBanc Capital Markets’ Monika Garg initiated coverage of the company with an Overweight rating and a price target...
Mondo Visione  Oct 8  Comment 
TriOptima announces today that 18 participants eliminated $1.6 trillion Canadian Dollar (CAD) in LCH.Clearnet’s SwapClear. This represents 20% of the interdealer CAD notional outstanding in CAD cleared interest rate swaps in the clearinghouse...  Oct 8  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar weakened against most major currencies in the Asian session on Thursday. The Canadian dollar fell to 2-day lows of 91.69 against the yen and 1.4717 against the euro, from yesterday's closing quotes of...  Oct 8  Comment  Oct 7  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar drifted higher against the U.S. dollar and the euro in late Asian deals on Wednesday. The loonie firmed to 1.3014 against the greenback, its strongest since September 18. The pair closed Tuesday's...  Oct 6  Comment 
CANBERA (dpa-AFX) - The Canadian dollar drifted lower against its key counterparts on Tuesday, after data showed that Canada's trade deficit widened more-than-forecast in August. Data from Statistics Canada showed that Canada's...  Oct 6  Comment 
CANBERA (dpa-AFX) - The Canadian dollar strengthened against most major currencies in the Asian session on Tuesday amid crude oil prices rise, after Russia signaled that it want to meet with OPEC and non-OPEC nations to discuss the global oil...  Oct 6  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar strengthened against most major currencies in the Asian session on Tuesday. The Canadian dollar rose to a 5-week high of 92.18 against the yen and nearly a 5-week high of 1.4607 against the euro, from...  Oct 5  Comment 
CANBERA (dpa-AFX) - The Canadian dollar extended its early gains against its most major rivals in European deals on Monday, as oil prices climbed amid a weaker dollar, and data showed that the U.S. rig count continued to fall for the fifth...  Oct 5  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar spiked up against most major rivals in European deals on Monday. The loonie advanced to more than a 2-week high of 1.3064 against the greenback and near a 2-week high of 1.4730 against the euro, up from its...  Oct 2  Comment 
CANBERA (dpa-AFX) - The Canadian dollar drifted higher against most major rivals in European deals on Friday, as oil prices rebounded ahead of U.S. jobs data for September later in the day, while air strikes in Syria weighed. Crude for November...


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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