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USDCAD

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

Analysis and statistics

  • Open
    1.3775$
  • Previous Close
    1.3759$
  • 52 Week Change
    --
  • Day Range
    0.00$
  • 52 Week High/Low
    --
  • Dividend Per Share
    --
  • Market cap
    --$
  • EPS
    --
  • Beta
    --
  • Volume
    --

About

The symbol USDCAD.FOREX typically refers to the exchange rate between the US dollar (USD) and the Canadian dollar (CAD) in the foreign exchange (forex) market. It represents the price of one US dollar in terms of Canadian dollars. So, if USDCAD.FOREX is trading at 1.35, it means that one US dollar can be exchanged for 1.35 Canadian dollars. The ".FOREX" suffix is often used by brokers and data providers to specifically indicate that the symbol represents a currency pair traded in the forex market.

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Factors

Oil Prices: Canada is a major oil exporter, so rising oil prices typically strengthen the Canadian dollar, thus weakening USDCAD.

Interest Rate Differentials: Higher interest rates in Canada relative to the US tend to strengthen the Canadian dollar, decreasing USDCAD.

Economic Data: Strong Canadian economic data (GDP, employment) strengthens the Canadian dollar, lowering USDCAD. Conversely, strong US data strengthens the US dollar, raising USDCAD.

Risk Sentiment: USDCAD often rises during risk-off periods as the US dollar is a safe-haven currency. Conversely, it falls during risk-on periods.

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