The US and Canadian economies are among the largest and have strong connections between them. A vast majority of Canadian exports go to the USA. USDCAD is a commodity-dependent currency. Throughout its history, CAD rate has been influenced by energy commodities. While the USD commonly influences pair liquidity more intensively, traders know that USDCAD negatively correlates with NZDUSD and AUDUSD.
Spreads and conditions
- 100 000 USD
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22 minutes agoUSD/CAD flirts with session lows, below 1.2700 mark
8 hours agoUSD/CAD Price Analysis: Drops back to 21-day SMA above 1.2700
2 days agoUSD/CAD rises above 1.2700, eyes test of 21DMA at 1.2740
2 days agoUSD/CAD to resume the bear trend on a sustained move beneath 1.2620 – Credit Suisse