Trade USD/CAD

The USD/CAD (USDCAD) is a Forex currency pair, nicknamed 'Loonie', consisting of the US dollar (USD) and the Canadian dollar (CAD). The USDCAD exchange rate is influenced by multiple factors such as the trade balance between the two regions, interest rates, and monetary policies by The US Federal Reserve and Bank of Canada (BoC), economic data (GDP, CPI inflation, employment rates, manufacturing, and consumer Sentiment) as well as Oil-related market events (OPEC meetings, oil inventory data).