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Markets · Forex

USD/CAD: News, Analysis & Educational Trade Ideas

US dollar / Canadian dollar · latest OpenBook briefings, educational trade ideas and a plain-English guide to what moves this market.

What is USD/CAD?

USD/CAD is the exchange rate between the US dollar and the Canadian dollar, showing how many Canadian dollars one US dollar buys. The Canadian dollar is nicknamed the "loonie" after the bird on the one-dollar coin.

Canada is a major oil exporter and the United States is its largest trading partner, so the pair is often influenced by energy prices and by trade relations between the two countries.

What drives USD/CAD

  • Bank of Canada and Federal Reserve interest-rate decisions.
  • Crude oil prices, which affect Canada's export earnings.
  • Canadian and US jobs, inflation and growth data.
  • US-Canada trade policy and tariffs.

Trading hours and sessions

USD/CAD trades 24 hours a day on weekdays, with most activity during North American hours, when Canadian and US economic data are released.

Check live quotes on the OpenBook markets board. Hours shown in US Eastern Time (ET) and may shift around holidays and daylight-saving changes.

Latest USD/CAD news

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Latest educational trade ideas in this asset class

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There is no published idea on USD/CAD right now; these are the latest related ideas.

Educational idea, not a recommendation. Do your own research and manage your risk.

USD/CAD FAQ

Why does oil matter for USD/CAD?

Oil is one of Canada's largest exports, so changes in crude prices can affect demand for the Canadian dollar.

What is the "loonie"?

It is the nickname for the Canadian dollar, taken from the loon pictured on the one-dollar coin.

Can US residents trade USD/CAD?

Yes, through a retail forex dealer or futures commission merchant that is registered with the CFTC and is a member of the NFA. US rules cap retail leverage at 50:1 on major currency pairs and 20:1 on other pairs, and CFDs are not available to US retail clients.

Are OpenBook USD/CAD trade ideas signals or investment advice?

No. OpenBook trade ideas are algorithmic, educational market ideas generated from public price data. They are not recommendations to buy or sell, do not consider your personal circumstances and are not investment advice. Some idea details are reserved for OpenBook Pro.