Canadian Dollar (CAD)

QUOTE AND NEWS  7 hrs ago  Comment 
CANBERA (dpa-AFX) - The Canadian dollar advanced against its major rivals in early New York deals on Friday, as oil prices firmed on the back of a weak dollar, and on receding worries over U.K. referendum following the death of a pro-EU British...
The Economic Times  7 hrs ago  Comment 
For the entire 2015-16 fiscal, CAD -- the difference between the inflow and outflow of foreign exchange -- shrank to 1.1 per cent of the GDP.
The Economic Times  9 hrs ago  Comment 
"CAD is certainly better than last year. CAD reducing is a healthy sign. It is one of the major macro indicators of economic health of the country. Certainly, it's a good number," Finance Secretary Ashok Lavasa said.
The Times of India  10 hrs ago  Comment 
Sensex rebound by 100 points to finish at 26,625.91 on gains in FMCG, auto and realty stocks, driven by a lower current account deficit and trade gap coupled with revival in global cues. Nifty also gained 29.45 points.
The Times of India  Jun 17  Comment 
BSE Sensex staged a sharp recovery of 189 points to 26,714.26 in early trade on Friday as fresh buying by investors led to widespread gains, driven by lower current account deficit and trade gap for last fiscal.  Jun 16  Comment 
CANBERA (dpa-AFX) - The Australian and the Canadian dollars weakened against their major counterparts in the Asian session on Thursday, as worries about the possibility of the UK leaving the European Union linger in the world market. Crude oil...
Forex News  Jun 15  Comment 
Most currencies rallied against the US dollar after the Federal Reserve’s policy announcement, but the Canadian dollar did not join the parade. The explanation for this is simple: prices for crude oil fell and dragged the Canadian...  Jun 15  Comment 
OTTAWA (dpa-AFX) - The Canadian dollar recovered from early lows against most major currencies in the Asian session on Wednesday. The Canadian dollar rose to 1.2852 against the U.S. dollar, from an early 9-day low of 1.2878. Against the yen...  Jun 14  Comment 
CANBERA (dpa-AFX) - The Canadian dollar weakened against the other major currencies in the Asian session on Tuesday. The Canadian dollar fell to an 8-day low of 82.58 against the yen, from yesterday's closing value of 82.71. Against the...
Forex News  Jun 14  Comment 
The Canadian dollar fell on Monday, following the drop of crude oil prices, though the currency is trying to recover during early Tuesday’s trading. Crude declined on Monday and continued to move down on Tuesday. Usually, the loonie...


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

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
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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