CAD Canadian Dollar Latest News, Analysis and Forex Trading Forecast

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Investing opinion & analysis

Global shares were mixed in muted trading ahead of key U.S. inflation data this morning that will shape the Federal Reserve’s thinking on interest rates when it meets mid-June. Higher inflation tends to lead central banks to octafx review put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar.

  1. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples.
  2. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.
  3. These are the highest points the exchange rate has been at in the last 30 and 90-day periods.
  4. This increases demand for the local currency, which in Canada’s case is the Canadian Dollar.
  5. Petroleum is Canada’s biggest export, so Oil price tends to have an immediate impact on the CAD value.

How does economic data influence the value of the Canadian Dollar?

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. Canada saw a -5.37 billion contraction in its Q1 Current Account, worse than the previous quarter but still better than median market estimates. US Gross Domestic Product (GDP) growth in the first quarter eased slightly, in-line with market forecasts, prompting a flurry of re-ignited hopes for rate cuts from the Federal Reserve (Fed). Canadian Western Bank has raised its quarterly dividend to 35 cents per common share, up 1 cent from its previous quarter, as it reported its second-quarter profit rose compared with a year ago. Provisions for credit losses totalled $23.1-million compared with $10.3-million a year earlier.

USD/CAD News Flow

Our currency rankings show that the most popular Canadian Dollar exchange rate is the CAD to USD rate. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate. The Bureau of Economic Analysis will release the Personal Consumption Expenditures (PCE) Price Index figures, the Fed’s preferred measure of inflation, for April.

Real Time News

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These currency charts use live mid-market rates, are easy to use, and are very reliable. USD/CAD is the forex ticker that represents the US Dollar-Canadian Dollar currency pair. The USD/CAD rate, as indicated on the live chart, shows traders how many Canadian Dollars are required to buy one US Dollar.

Here’s why Chainlink price could crash 15% despite spike in social volume

If economic data is weak, however, the CAD is likely to fall. These are the average exchange rates of these two currencies for the last 30 and 90 days. The Canadian Dollar (CAD) is rebounding on Thursday, recovering ground previously lost in the midweek market session as broad market flows in the Greenback dictate overall market sentiment. Canadian trade balance numbers fell in the first quarter, but less than expected, helping to bolster the CAD.

Check live rates, send money securely, set rate alerts, receive notifications and more. Other factors include market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar. Live tracking and notifications + flexible delivery and payment options. Create a chart for any currency pair in the world to see their currency history.

Follow the USD/CAD chart for live prices and stay up to date with the latest USD/CAD news, forecasts and analysis. Our expert industry insights will give you the edge to conduct thorough fundamental and technical analysis to trade this popular currency pair. Macroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency.

The Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive.

The CAD is still down three-quarters of a percent against the Swiss Franc (CHF) and around a fifth of a percent against the Japanese Yen (JPY). Laurentian Bank of Canada has reported a second-quarter loss of $117.5-million, compared with net income of $49.3-million a year earlier. The bank’s provision for credit losses totalled $17.9-million, up from $16.2-million in its second quarter last year. The U.S. dollar index, which weighs the greenback against a group of currencies, was trading at 104.84, on course for 1.4 per cent decline in May, snapping a four-month winning streak. In Europe, inflation ticked up more than expected to an annual 2.6 per cent in May, today’s data revealed.

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. The table below shows the percentage change of Canadian Dollar (CAD) against listed major currencies today. Authors and topics you follow will be added to your personal news feed in Following.

These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. These are the highest points the exchange rate has been at in the last 30 and 90-day periods. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The Canadian Dollar (CAD) is rebounding in a broad-market risk appetite recovery, climbing a third of a percent against the US Dollar amid Greenback weakness across the board.

BRP has recorded a first-quarter loss as revenues fell compared with a year earlier, saying it would lower production to reduce network inventory amid current macroeconomic challenges. Chainlink price has flashed multiple sell signals after its recent climb, hinting at a short-term correction. This signal comes despite a double-digit growth in its social volume. LINK bulls need to exercise caution as this forecast is backed by on-chain metrics.

But that’s unlikely to stop the European Central Bank from making a first interest rate cut next week. “The big driver in the market at the moment is the same old story of when is the Fed going to pivot and start cutting rates,” said Mark Ellis, CEO of Nutshell Asset Management. Gold (XAU/USD) trades flat in the $2,340s on Friday, pausing in its labored recovery from Thursday’s three-week trough about $20 lower. The recovery came after the release of weaker US growth data.


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