USDCAD

USD/CAD represents the exchange rate between the U.S. dollar (USD) and the Canadian dollar (CAD), showing how many Canadian dollars are needed to buy one U.S. dollar. It reflects the economic relationship between the United States and Canada.

The exchange rate is influenced by factors such as monetary policies of the Federal Reserve (Fed) and the Bank of Canada (BoC), interest rate differentials, inflation, employment data, and GDP growth. Since Canada is a major oil exporter, oil prices have a strong impact on the CAD’s value. When oil prices rise, the CAD tends to strengthen, pushing USD/CAD lower.

USD/CAD is widely traded in forex markets and is considered a commodity currency pair due to Canada’s dependence on natural resources. It is often affected by trade relations and economic ties between the two countries.