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Canadian Dollar (CAD) - BER Currency Guide

In this currency guide we look at :


  1. CAD General Info
  2. CAD Market View
  3. CAD BER News
  4. CAD Cross Rates

Canadian Dollar General Info

The three letter currency code for the Canadian Dollar is CAD and the symbol is $. It is the domestic currency in Canada.

Representing a little more than 5% of the foreign exchange market’s daily turnover, the Canadian dollar (ISO: CAD) is the world’s sixth most traded currency. Frequently called the ‘loonie’ by foreign exchange traders due to the image of a loon (an aquatic bird) on Canada’s one-dollar coin, the currency’s value is heavily influenced by commodities prices, particularly oil. For this reason, the Canadian dollar is often labelled a ‘petro-currency’. Canada currently has the world’s third largest oil reserves and is the world’s fourth largest oil exporter.

Canadians are mostly concerned with the value of their currency against the US dollar, since nearly 80% of Canadian exports go south of the border. In the past two decades, the Canadian dollar’s lowest value against its US counterpart occurred in January 2002 when the CAD/USD exchange rate traded at just 0.6178. The currency’s two-decade high occurred in November 2007 (following a boom in the oil price) when CAD/USD reached 1.1041.



CAD - Market View

CAD/USD Updates - Mon 5:00 EDT

1 Day  1 Week: Canadian Dollar started the week even against the United States Dollar with the CAD/USD at 0.7431 and up for the last 7 days with a rise of 1.02%.

3 Month Trend: CAD/USD is trending mid 3-month range [Hi:0.7561, Lo:0.7280] and for the quarter is down -1.64%


Canadian Dollar - BER News

Canadian Dollar – Fri May 26: CAD Up vs USD, EUR, MXN, AUD, GBP & PHP.

Canadian Dollar up 0.28% against the United States Dollar, up 0.6% against the Euro, up 0.2% against the Mexican Peso, even against the Indian Rupee, up 0.39% against the Australian Dollar, up 1.24% against the British Pound Sterling and up 0.12% against the Philippine Peso. CAD 7 Day Cross-Rate Charts Read on for the latest... View article >
Currency:
Posted on 26 May 2017 | 9:16 pm GMT
Author: BER Research

Canadian Dollar – Thu May 25: CAD Down vs USD, EUR, MXN, INR, GBP & PHP.

Canadian Dollar down -0.58% against the United States Dollar, down -0.5% against the Euro, down -0.06% against the Mexican Peso, down -0.74% against the Indian Rupee, even against the Australian Dollar, down -0.33% against the British Pound Sterling and down -0.77% against the Philippine Peso. CAD 7 Day Cross-Rate Charts Read on for the latest... View article >
Currency:
Posted on 25 May 2017 | 9:16 pm GMT
Author: BER Research

Loonie Flexing its Wings

The Canadian dollar is in demand. An ever-so-slightly hawkish Bank of Canada statement, ever-so-slightly doveish FOMC minutes, and a surge in oil prices combined to crush USDCAD.  It plunged from its pre-BoC perch of 1.3530 yesterday, to an overnight low of 1.3388. Profit taking and Opec meeting headlines lifted USDCAD to 1.3435 at the New... View article >
Posted on 25 May 2017 | 11:59 am GMT
Author: Agility Forex

Commodity Based Currencies Bolstered by Uptick in Oil Prices

 Sterling After a brief rally against the majority of its peers yesterday morning the Pound (GBP) tumbled by the afternoon over new Brexit concerns. Sterling’s weakness was prompted by a report from BlueBay Asset Management who told traders that they should bet against the Pound as they predict turbulent Brexit negotiations will cause it to... View article >
Posted on 25 May 2017 | 8:47 am GMT
Author: TorFX

Canadian Dollar – Wed May 24: CAD Up vs USD, EUR, INR, AUD, GBP & PHP and Down vs MXN.

Canadian Dollar up 0.76% against the United States Dollar, up 0.42% against the Euro, down -0.14% against the Mexican Peso, up 0.53% against the Indian Rupee, up 0.39% against the Australian Dollar, up 0.71% against the British Pound Sterling and up 1.03% against the Philippine Peso. CAD 7 Day Cross-Rate Charts Read on for the... View article >
Currency:
Posted on 24 May 2017 | 9:16 pm GMT
Author: BER Research

Moody’s Downgrades China

Moody’s downgraded China’s sovereign debt from Aa3 negative to A1 Stable, overnight.  Traders were surprised and the news led to selling of the commodity currency bloc. That kerfuffle faded quickly and the FX majors opened in New York, very near to their closing levels. AUDUSD dropped from 0.7482 to 0.7443 on the China downgrade mainly... View article >
Currency:
Posted on 24 May 2017 | 12:18 pm GMT
Author: Agility Forex

Euro Suffers as Greece Debt Concerns Mount

Sterling GBP/USD 1 Week Chart After falling on Tuesday morning after the UK’s public deficit widened further than expected, the Pound (GBP) found its legs in the afternoon and rallied against the majority of its peers. The rebound appeared to be thanks to traders rushing to take advantage of the Pound’s weakness at the start... View article >
Posted on 24 May 2017 | 9:44 am GMT
Author: TorFX

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