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Canadian Dollar CAD

 

Detailed information and fundamental factors

Central Bank: Bank of Canada

Interest Rate: 1.75%

Public Debt to GDP Ratio, 2017: 98.2%

Trade Balance, 2018: -$36.3 bln.

Inflation, 2018: 2.3%

Sovereign Credit Ratings:

Fitch
AAA
Stable
Moody's
Aaa
Stable
S&P
AAA
Stable

Supporting Factors

Major commodity exporter

medium

Factors of Weakness

Dependence on United States as a major counterparty

The Canadian dollar is the official currency of Canada and is the 7th most traded currency in the world. It is often nicknamed “loonie” for the image of the aquatic bird on $C1 coin. The loonie was introduced as a currency used in Canada and all of its provinces in 1871, while the fixed exchange rate was abandoned in 1970. It is used by some central banks as a reserve currency. The performance of the currency depends on raw materials. Prices for crude oil are the most influential factor on the value of Canada’s dollar as oil is the most important export of Canada.



Canadian Dollar News Archive

NZD/CAD Still Aiming for 0.8514

The New Zealand dollar versus the Canadian dollar currency pair is very consistent in its determination of reaching 0.8514 once more.

AUD/CAD Trying to Keep the Gains at 0.9010

The Australian dollar versus the Canadian dollar currency pair seems to be in a bullish profile. But is it really so?

CAD Mixed on Amazing Employment Data, Falling Crude Oil

The Canadian dollar did not show a clear trend today, being under the influence of mixed fundamentals. Domestic employment data was surprisingly good but the drop of crude oil prices was weighing on the currency.

Loonie Extremely Weak on Negative Housing Data & Oil Prices

The Canadian dollar was among the weakest currencies today, dragged down by negative domestic housing data. Both housing starts and building permits fell unexpectedly. The falling prices for crude oil, Canada’s biggest export, were weighing on the currency as well.

GBP/CAD Could Prepare for 1.7811

The Great Britain pound versus the Canadian dollar currency pair seems to have limited the bearish attempts to further induce a depreciation.

Canadian Dollar Weakens on Falling Crude Prices, Disappointing Exports

The Canadian dollar is weakening against multiple currency rivals midweek as energy prices are hitting the loonie. President Donald Trump confirmed that Iran is “standing down” in the intense Middle East conflict, sending futures plunging. The loonie was also impacted by disappointing export data. Despite being one of the top-performing G20 currencies, the Canadian dollar has had a rough start to 2020.

Loonie Shows Good Performance Despite Adverse Fundamentals

The Canadian dollar fared rather well today, rising against other most-traded currencies or at least staying flat against them. The notable exceptions were the US dollar and the Japanese yen. Losses versus the strong greenback were especially big. But overall, the loonie showed a rather decent performance considering negative macroeconomic data and falling prices for crude oil.

NZD/CAD May Now Be Heading for 0.8514

The New Zealand dollar versus the Canadian dollar currency pair surprised the market by turning around. Is there any chance of a comeback?

AUD/CAD Could Revisit the 0.9010 Area

The Australian dollar versus the Canadian dollar currency pair turned around from its initial path towards the 0.9300 level. Are the bulls only recharging or did they allow a bearish victory?

Will NZD/CAD Correct on Its Way to 0.8915?

The New Zealand dollar versus the Canadian dollar currency pair managed to conquer the 0.8692 level. The continuation towards 0.8915 might come after a corrective phase.

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