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Canadian Dollar CAD
Central Bank: Bank of Canada
Interest Rate: 0.25%
Public Debt to GDP Ratio, 2017: 98.2%
Trade Balance, 2018: -$36.3 bln.
Inflation, 2019: 1.9%
Major commodity exporter
medium
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.
The Canadian dollar today remained weak against the US dollar despite the release of upbeat Canadian GDP data in the early American session. The USD/CAD currency pair kept trading near the two and half month lows as investors waited patiently for Trump’s speech.
The Great Britain pound versus the Canadian dollar currency pair seems to be under bearish command. Do the bulls have any chance of getting into the scene in the near future?
The Great Britain pound versus the Canadian dollar currency pair is at the 1.7000 psychological level. Is there a chance for the bulls to stop the bears in their tracks?
The Canadian dollar today rallied higher against its US peer driven by high crude oil prices before the release of multiple fundamental reports from the Canadian docket. The USD/CAD currency pair today fell as the loonie rallied higher against the much weaker greenback amid a risk-on market environment as investors remain hopeful about the future.
The Canadian dollar today lost ground against its US peer as the greenback posted gains boosted by President Donald Trump’s comments about a strong dollar. The USD/CAD rallied higher earlier today before giving up all its gains later in the session as the loonie recovered on hawkish comments from the Bank of Canada Governor.
The Australian dollar versus the Canadian dollar currency pair seems to be willing to still think where to go next. But does the market offer some guides?
The Great Britain pound versus the Canadian dollar currency pair is back at the ascending trendline. Could the bears spell further movement to the downside?
The Canadian dollar today rallied against its Southern neighbour after the release of jobs data from both countries with some prints beating analysts’ estimates. The USD/CAD currency pair today printed news lows as US non-farm payrolls disappointed causing the greenback to lose ground against the loonie amid higher oil prices.
The Australian dollar versus the Canadian dollar currency is in a position from where it could go either up or down. Is there any hint on the direction?
The Great Britain pound versus the Canadian dollar seems to be a little undecided.
