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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

Bulls Targeting 1.7445 on GBP/CAD?

The Great Britain pound versus the Canadian dollar currency pair seems to be willing to go higher. Will the bears let it do so?

Canadian Dollar Slides As BoC Leaves Rates Unchanged, Crude Oil Crashes

The Canadian dollar is sliding against its US peer on Wednesday as the Bank of Canada (BoC) left interest rates unchanged during its November policy meeting. The loonie was also falling on plummeting crude oil prices amid escalating COVID-19 cases around the world that traders bet would continue to weigh on global demand. With Canada witnessing a second wave of the highly infectious respiratory illness, will the economic recovery […]

Chances for Bulls to Validate 1.7285 as Support on GBP/CAD?

After the rally to 1.7285, would the level cede in front of the bullish momentum or serve as the perfect spot for the bears to short the market at a very good price?

Canadian Dollar Rallies Against US Peer Driven by Dollar Dynamics

The Canadian dollar today rallied against its US peer benefitting heavily from the latter’s decline as investors remained cautiously optimistic about the global economy. The USD/CAD currency pair fell as the loonie rallied driven by the upbeat investor sentiment as Canada insists that it will not open its borders to Americans given the surge in US coronavirus cases.

GBP/CAD Still Wants Above 1.7132

The Great Britain pound versus the Canadian dollar currency pair seems not to let go of the idea of rising.

Canadian Dollar Rallies Against US Peer on Upbeat Jobs Data

The Canadian dollar today rallied against its US peer fueled by the positive Canadian jobs report and the upbeat investor sentiment. The USD/CAD fell for the third straight session as the commodity-linked loonie rallied higher capitalising on the greenback’s weakness over the same period.

1.7285 Next Target for GBP/CAD?

The Great Britain pound versus the Canadian dollar currency pair seems to have found support at 1.7132. Are the bulls ready for a new march?

Canadian Dollar Falls Against US Peer on Trump Stimulus Tweets

The Canadian dollar today gave up most of its gains against the US dollar as the latter rallied boosted by the risk-off market sentiment as stimulus hopes dissipated. The USD/CAD currency pair rallied higher during the American session as President Donald Trump dashed all hopes of a US stimulus deal ahead of the November 3 elections.

GBP/CAD Peaking at 1.7294?

The Great Britain pound versus the Canadian dollar currency pair seems to be having a hard time while attempting to conquer 1.7285.

Canadian Dollar Rises as GDP Continues to Grow, Oil Prices Rise

Commodity currencies were the clear winners today, and the Canadian dollar was among them. It was trading on par with its Australian and New Zealand counterparts but gained against major rivals. Market analysts speculated that such behavior was a result of month-end flows, which drove the US dollar down, though the Canadian currency has its own factors to support it.