Canadian Dollar CAD


Detailed information and fundamental factors

Central Bank: Bank of Canada

Interest Rate: 0.50%

Public Debt to GDP Ratio, 2014: 92.6%

Trade Balance, 2014: $17 bln.

Inflation, 2014: 2%

Sovereign Credit Ratings:


Supporting Factors

Major commodity exporter


Factors of Weakness

Dependence on United States as a major counterparty

The Canadian dollar is the official currency of Canada and is the 7th most traded currency in the world. It is often nicknamed “loonie” for the image of the aquatic bird on $C1 coin. The loonie was introduced as a currency used in Canada and all of its provinces in 1871, while the fixed exchange rate was abandoned in 1970. It is used by some central banks as a reserve currency. The performance of the currency depends on raw materials. Prices for crude oil are the most influential factor on the value of Canada’s dollar as oil is the most important export of Canada.

Canadian Dollar News Archive

Canadian Dollar Shows Better Performance

Today, the Canadian dollar fared better than yesterday, rising against the euro and paring initial losses versus the US dollar and the Japanese yen. Economic data released from Canada over Friday was mixed, giving the currency no particular edge.

Canadian Dollar Demonstrates Weak Performance

The Canadian dollar was attempting to rise against its US peer today but has almost erased its gains by now. The currency fell against its other major rivals, including the euro and the Japanese yen.

Canadian Dollar Down as Traders Wait for Fed Minutes

The Canadian dollar fell today against its major peers as the drop of crude oil prices continues to weigh on the currency. Additionally, traders were unwilling to buy risky currencies tied to economic growth ahead of the release of Federal Reserve policy meeting minutes.

Canadian Dollar Mixed Close to End of Trading

The Canadian dollar was mixed today, falling against the US dollar, rising versus the euro and staying flat against the Japanese yen.

Canadian Dollar Flat, Feels Pressure from Crude Oil

The Canadian dollar was little changed during Wednesday’s quiet trading. Markets in several countries, including Canada and the United States, are closed today due to holidays.

Canadian Dollar Regains Some Lost Ground

Canadian dollar is regaining some of the ground it lost yesterday. Thanks to slightly higher oil prices and some profit taking, the loonie is higher against its major counterparts.

CAD Drops vs. USD, Supported vs. Other Majors by Employment

The Canadian dollar fell more than 1 percent against the US dollar after the release of US employment data. The loonie performed better against its other most-traded peers as the employment report from Canada itself was also good.

Loonie Struggles After Scotiabank Forecast

Canadian dollar has been struggling recently in Forex trading, and the latest forecast from Scotiabank isn’t helping matters. With predictions for a weak loonie through 2017, the currency is once again heading lower.

Loonie Continues to Fall as Money Flows Out of Canada

Canadian dollar is falling today after a relatively successful run last week. With the oil boom over for Canada, though, there is a lot of money flowing out of the country and the loonie is dropping as a result.

Crude Oil Prices Help Loonie Yet Again

The Canadian dollar gained against the US dollar and the Japanese yen, though it was unable to beat the euro. Analysts say that crude oil prices helped the currency yet again.



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