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WHAT DO I GET HERE?
This page shows the exchange rate of the Canadian Dollar (CAD) against most world currencies. It gives you valuable insights in terms of Relative Strength of the Canadian Dollar and enables you to better understand intermarket relationships. Traders should look at it to establish a successful strategy, looking at the big image rather than looking at a single-dimensional scope.
Being organized by big geographic zones, it also provides information about capital flows between continents. For example, a negative performance of Asian currencies against the Canadian Dollar shows money is migrating from Asia to America during that particular day.
ABOUT THE CANADIAN DOLLAR
Canada is commonly known as a resource based economy being a large producer and supplier of oil. The leading export market for Canada is by far the United States making its currency particularly sensitive to US consumption data and economical health.
Being a highly commodity dependent economy, the CAD is very correlated to oil - meaning that when oil trends higher, USD/CAD tends to trend lower and vice versa.
Nickname: Loonie
WHY SHOULD I ANALYSE THE RELATIVE STRENGTH OF THE CAD?
In an educational article on Relative Strength, the EzTrader team takes a clear example for the Canadian Dollar - but the same thinking applies to the Canadian Dollar of course: "Let’s assume that for some reason USD becomes the worst performing currency among all G10 currencies. If we look at the EUR/USD and AUD/USD we might see that they both strengthen against the USD, however it will be harder for us to determine which currency is stronger between the two unless we look at EUR/AUD. This process we will have to do for every currency pair so we can understand the relative strength of the currencies (bear in mind that just in the G10 complex we have 45 currency pairs.)"
If you want to know more about correlations, we recommend you to watch Navin Prithyani’s video on Mastering Market Correlations. And you will find more resources on this topic here.
ABOUT THESE RATES
Our rates present high-frequency updated data directly coming from more than 170 big interbank liquidity providers such as ABN Amro, Abbey National Bank, JP Morgan Chase, Zurcher Kantonal Bank, UBS Investment Bank, Westpac and many more. The real time streaming feed displays Open, High, and Low rates as well as the performance in pips and percentage compared to the price close at 00:00 GMT. Click on a pair to get detailed information.