• AUD/CAD 0.98474 00:40 17.01
  • NZD/JPY 80.993 00:30 17.01
  • EUR/AUD 1.41866 00:30 17.01
  • AUD/JPY 85.230 00:30 17.01
  • GBP/JPY 137.332 00:30 17.01
  • NZD/USD 0.71089 00:30 17.01
  • EUR/USD 1.06125 00:30 17.01
  • EUR/JPY 120.915 00:30 17.01
  • AUD/USD 0.74807 00:30 17.01
  • USD/JPY 113.934 00:30 17.01
  • AUD/CAD 0.98456 00:20 17.01
  • BitCoin/CNY 5683.375 00:00 17.01
  • NZD/JPY 81.045 00:00 17.01
  • EUR/AUD 1.41903 00:00 17.01
  • AUD/NZD 1.05253 00:00 17.01
  • CAD/JPY 86.644 00:00 17.01
  • AUD/JPY 85.298 00:00 17.01
  • GBP/JPY 137.460 00:00 17.01
  • NZD/USD 0.70989 00:00 17.01
  • EUR/USD 1.06025 00:00 17.01
  • EUR/JPY 121.045 00:00 17.01
  • AUD/USD 0.74717 00:00 17.01
  • USD/JPY 114.166 00:00 17.01

USD/CAD

USD/CAD: The U.S. Dollar and The Canadian Dollar

The USD/CAD (with the USD as the Base Currency and the CAD as the Quote Currency) is the currency of Canada, which is controlled and administered by the Bank of Canada, which was established in 1934. Nicknamed the ‘Loonie’, the Canadian Dollar ranks 7th in foreign exchange daily turnover.

History of the Canadian Dollar

In April of 1871, the Canadian Parliament replaced all Canadian Province currencies with the Canadian Dollar, passing the Uniform Currency Act.

The Canadian Economy

Ranked as the 14th largest Global economy, Canada has a GDP estimated at $1.90 Trillion, dominated by International trade and the service industry. It’s major export goods are aircraft, chemicals, crude petroleum, natural gas, electricity, fertilizers, industrial machinery, metals, motor vehicles, timber and wood pulp, and telecommunications equipment.

Major import goods are chemicals, crude oil, durable consumer goods, electricity, machinery and motor vehicles.

Factors Affecting the USD/CAD currency pair

Commodity prices, especially natural resources, impact heavily on the Canadian dollar exchange rate. The Canadian and U.S. Economy are heavily inter-related as the US is Canada’s largest trading partner. Therefore, any US Central Bank Federal Reserve policies, and all political events affect the Canadian Dollar.

Main export partners
United States 72.8%
EU 5.3%
UK 4.5%
China 4.4%
Germany 3.5%
Israel 3.5%

Main import partners
United States 51.2%
China 10.7%
UK 6.2%
Japan 6.2%
Mexico 5.3%
South Korea 4.4%

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