USD/CAD Exchange Rate Today, Forecast & News

USD/CAD
US Dollar - Canadian Dollar
Open
1.37083-0.00697 (-0.51%)
As of: May 02, 2024 15:13 UTC
Open
1.37780
High
1.37840
Low
1.36863

Stats

Prev. Close

1.37780

Open

1.37780

Day's Range

1.36863 - 1.37840

52 Week Range

1.30926 - 1.39030

YTD Change

3.46%

1 Year Change

1.15%

Economic CalendarAll Events

Time zone: GMT

Thursday, May 2nd 2024
Time	Currency	Event	Impact	Actual	Consensus	Previous
12:30	CAD	Balance of TradeMar	High	C$-2.28B	C$1.5B	C$0.48B
12:30	USD	Nonfarm Productivity QoQ PrelQ1	Medium	0.3%	0.8%	3.5%
12:30	USD	Unit Labour Costs QoQ PrelQ1	Medium	4.7%	3.3%	0.0%
14:00	USD	Factory Orders MoMMar	Medium	1.6%	1.6%	1.2%

Friday, May 3rd 2024
Time	Currency	Event	Impact	Actual	Consensus	Previous
12:30	USD	Participation RateApr	Medium		62.7%	62.7%
12:30	USD	Average Hourly Earnings MoMApr	Medium		0.3%	0.3%
12:30	USD	Average Hourly Earnings YoY	Medium		4%	4.1%

USD/CAD

The Canadian Dollar, also referred to as the Loonie, is referred to as a commodity currency. Both the value of the Loonie and Bank of Canada monetary policy are materially influenced by global commodity prices and the global economic outlook. While a commodity currency, the Loonie is also a benchmark currency, meaning that central banks globally hold Canadian Dollars as a reserve currency. The USD/CAD pairing is equal 5th most liquid pairing, accounting for 5% of total transaction volume in the FX markets. The Loonie is the 7th most traded currency in the world.

	Canada		United States
Interest Rate	5% Apr 24		5.5% Apr 24
Inflation Rate	2.9% Mar 24		3.5% Mar 24
Credit Ratings	Moody's	S&P	Moody's	S&P
Credit Ratings	AaaStable	AAAStable	AaaNegative	AA+Stable