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CADCNY

$--
--%
1d
1w
1m

Analysis and statistics

  • Open
    5.1637$
  • Previous Close
    5.164$
  • 52 Week Change
    --
  • Day Range
    -0.00$
  • 52 Week High/Low
    --
  • Dividend Per Share
    --
  • Market cap
    --$
  • EPS
    --
  • Beta
    --
  • Volume
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About

The financial product symbol CADCNY.FOREX refers to the Canadian Dollar (CAD) versus the Chinese Yuan (CNY) currency pair traded on the foreign exchange (FOREX) market. This symbol represents the exchange rate between these two currencies, indicating how many Chinese Yuan are needed to purchase one Canadian Dollar. The FOREX market is a decentralized, global marketplace where currencies are traded, and CADCNY.FOREX signifies trading specifically involving this particular currency pair, influenced by factors such as interest rates, economic growth, and geopolitical events in both Canada and China.

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Factors

CADCNY.FOREX is a Forex pair so the following factors will affect it: Canadian Dollar (CAD) Factors: Canada's interest rates set by the Bank of Canada, inflation rate, GDP growth, employment figures, trade balance and political stability all influence the CAD's value.

Chinese Yuan (CNY) Factors: China's economic growth, trade surplus, foreign exchange reserves, government policies and People's Bank of China (PBOC) actions influence the CNY value.

Commodity Prices: As Canada is a major commodity exporter, especially oil, fluctuations in commodity prices affect the CAD. Rising oil prices often strengthen CAD.

Global Economic Conditions: Global economic growth and risk sentiment also influence CADCNY. In times of global economic uncertainty, investors may move to safe-haven currencies like the USD, indirectly affecting CADCNY.

Interest Rate Differentials: The difference between interest rates in Canada and China impacts the relative attractiveness of investing in each country's currency.

Geopolitical events: Significant political events or geopolitical tensions can influence currency values.

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