usd / cad Live Exchange Rate

The major factors determining the USD/CAD exchange rate are interest rate changes and banking announcements. However, there is a lack of political volatility between the two countries, which means that USD/CAD trading is not so common as is the case with other currency pairs.

However, it is nonetheless true that some very good opportunities do occur for trading USD/CAD and if you keep an eye on our trading reports you will read about them in good time.

USD / CAD Additional Info

USD

This has for many years been accepted as having a special place in the currency markets. It is the traditional safe haven in times of trouble, and is the currency used more than any other for international transactions. When there are times of political or global financial troubles, the first place that most investors look is the US dollar. In fact, the US dollar is traded more than any other currency in the world.

The US is the world’s biggest economy – larger than the European Union or China - and has a GDP of $14 trillion. That is a lot of dollars.

CAD

The Canadian dollar is a gold-colored coin which was introduced on June 30th 1987. It depicts the common loon which is a bird found in Canada, and provides the nickname for the CAD – the “loonie”. Exactly two years after the coin was introduced, on June 30th 1989, the final dollar bills were printed, after which production of the bills ceased.

Since the 1970’s, when it was floated against other world currencies, the Canadian dollar has become a reserve currency. Today, a number of central and commercial banks use the CAD as a reserve currency.

In addition to that, the Canadian dollar is considered a benchmark currency. By looking at how the Canadian dollar performs versus the US dollar, it is possible for economists to detect patterns in the US economy that may not be observed otherwise.

USD / CAD News & Analysis

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