USDCAD

USD/CAD represents the exchange rate between the US Dollar (USD) and the Canadian Dollar (CAD), often referred to as the “Loonie” due to the loon bird featured on Canada’s one-dollar coin. This pair is heavily influenced by commodity prices, particularly crude oil, as Canada is a major oil exporter. When oil prices rise, the Canadian dollar typically strengthens, pushing USD/CAD lower, and vice versa. Other key factors affecting the pair include interest rate differentials between the Federal Reserve and the Bank of Canada, economic data from both countries, and overall risk sentiment in the global markets. The pair is known for its sensitivity to both energy markets and monetary policy shifts.