EURUSD 1.1787 USDJPY 112.14 USDCAD 1.2774 EURCZK 25.557 USDCZK 21.677 EURPLN 4.2304 USDPLN 3.5887
EURUSD 1.1787 USDJPY 112.14 USDCAD 1.2774 EURCZK 25.557 USDCZK 21.677 EURPLN 4.2304 USDPLN 3.5887

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The USDCAD is mainly affected by trade relations between the US and Canada

USDCAD
Bid / Ask: 1.27743 / 1.27770
Price change: 0.00204 (0.16%)
Opening price: 1.27539
Maximum price: 1.28227
Minimum price: 1.27126
Display period:
Chart type:

Rule of thumb

Significant changes in  oil prices may impact the USD/CAD price level

The USDCAD currency pair represents the amount of Canadian dollars (CAD) equal in value to one US Dollar (USD). It accounts for nearly 4% of the total turnover on the foreign exchange market (FOREX) market.

 

The Canadian Dollar is very closely related  to the US dollar, due to  trade relations between the two countries. Nearly 80% of Canada’s exports go to the United States, and nearly 50% of imports come from the United States. This situation brings some paradox in economical terms where a strong or weak USD (or CAD) may bring, at the same time, positive and negative effects to the Canadian economy. On one hand it may weaken export, but on the other hand, imported goods may become cheaper. Also CAD is sensitive to oil prices as Canada is a significant oil exporter.

 

Both these currencies are treated as commodity currencies, especially in respect to oil import. The Canadian dollar is the eighth world currency in terms of turnover. However despite its opposition to the US Dollar, it is not considered to be a reserve currency on the global forex market.

Pola oznaczone gwiazdką są wymagane.

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