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Type : Currency | Group: Majors | Base: US Dollar | Quote : Canadian Dollar

USD/CAD | Range Today: 72.1 pips
Wave 1 Week 2 Weeks 1 Month 4 Months
Direction Bullish ⇧ Bearish ⇩ Bearish ⇩ Bearish ⇩
Highest 1.3223 1.3245 1.3258 1.33655
Lowest 1.2325 1.2354 1.2145 1.2356
Use time frame m5, m15, m30, H1, and H4 to use this data | Update: March 19, 2022

  Interest Rates  
USD Flag CAD Flag
Federal Reserve Bank of Canada
0.00% 0.00 – 0.25%


The U.S. dollar Canadian dollar (USD CAD) is a currency pairing whereby the U.S. dollar and the Canadian dollar can be traded against each other. The USD CAD can be thought of as the dollar versus the Canadian dollar (also known as the loonie) – you short the dollar and go long the loonie or short the loonie and go long the dollar. The USD CAD is a popular currency pair, but it isn’t among the top three most traded currency pairs. The USD CAD may also be written as USD/CAD.

The USD CAD is most often used as a commodity price play due to the dependence of the Canadian economy on oil and gas prices. Although the United States is also active in oil and gas exploration and development, it has a more diversified economy with huge financial services and technology sectors. When oil prices go up, the Canadian dollar will usually gain on the U.S. dollar and often reaches parity or higher. When oil prices are low, the Canadian dollar tends to lose value against the U.S. dollar. In reality, however, there are more nuances to this relationship – as there are with every currency pair.

About US Dollar

The USD is integral to world trade in that it belongs to the world’s largest economy and acts as the world reserve currency. Because of this unique situation, many of the standard economic rules do not seem to apply to the USD.

The U.S. government has had long periods of fiscal irresponsibility and yet the USD has not always suffered during inflationary times that would damage any other currency. This is because, as the world’s largest economy, the USD is considered a safe haven currency in times of global uncertainty. However, this rule doesn’t always hold, and the U.S. dollar does eventually pay for periods of prolonged inflation and trade deficits – it just seems to enjoy a much longer lag before any market reaction takes place.

About Canadian Dollar

The Canadian dollar (CAD) is the official currency of Canada. The Canadian dollar is considered to be one of the major currencies and is paired with all the other major currencies, including the U.S. dollar (USD), Japanese yen (JPY), Swiss franc (CHF), euro (EUR), pound sterling (GBP) and Australian dollar (AUD).

The Canadian dollar is also referred to as the loonie.

The Canadian dollar is considered to be one of the commodity currencies because the economy of Canada is heavily linked to the price of oil. Although Canada is relatively small in terms of population, the mineral and oil wealth make it one of the world’s 10 largest economies in terms of GDP.

The Canadian dollar is less stable than the Australian dollar – another commodity currency. One of the reasons for this is that oil makes up a larger portion of the Canadian economy, and oil tends to be a more volatile commodity. Another reason is that the Canadian economy depends heavily on trade with the U.S., so its fortunes fluctuate with U.S. economic reports in addition to the Canada-specific releases.