\n| CHF<\/th>\n | 0.37%<\/td>\n | -0.10%<\/td>\n | -0.19%<\/td>\n | 0.41%<\/td>\n | 0.00%<\/td>\n | -0.34%<\/td>\n | -0.20%<\/td>\n | \u00a0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Canadian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CAD (base)\/USD (quote).<\/p>\n<\/div>\n<\/div>\n Technical analysis: Wednesday\u2019s Greenback declines a welcome reprieve for CAD bulls<\/h2>\nDespite a soft-to-mixed performance, the Canadian Dollar (CAD) found higher ground against the US Dollar and the Japanese Yen (JPY), climbing around one-third of one percent against each. The CAD shed weight against the Australian Dollar (AUD) and the Pound Sterling (GBP), declining one-third of one percent and one-fifth of one percent, respectively.<\/p>\n USD\/CAD volatility continues to litter the charts, with the pair declining back into familiar lows near 1.3630. Wednesday\u2019s decline adds to earlier declines after an early week peak just below 1.3760.<\/p>\n A supply zone is baked into the daily chart as candlesticks slump back below the 50-day Exponential Moving Average (EMA) at 1.3677. Buyers will be looking for a chance to re-up on an extended pullback to the 200-day EMA at 1.3588.<\/p>\n USD\/CAD hourly chart<\/h2>\nUSD\/CAD daily chart![\"\"](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/USD_CAD-638556226792037736.png\") <\/h2>\n\n \n \n Canadian Dollar FAQs<\/h2>\n\n \nThe key factors driving the Canadian Dollar (CAD) are the level of interest rates set by the Bank of Canada (BoC), the price of Oil, Canada\u2019s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada\u2019s exports versus its imports. Other factors include market sentiment \u2013 whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) \u2013 with risk-on being CAD-positive. As its largest trading partner, the health of the US economy is also a key factor influencing the Canadian Dollar.<\/p>\n<\/section>\n\nThe Bank of Canada (BoC) has a significant influence on the Canadian Dollar by setting the level of interest rates that banks can lend to one another. This influences the level of interest rates for everyone. The main goal of the BoC is to maintain inflation at 1-3% by adjusting interest rates up or down. Relatively higher interest rates tend to be positive for the CAD. The Bank of Canada can also use quantitative easing and tightening to influence credit conditions, with the former CAD-negative and the latter CAD-positive.<\/p>\n<\/section>\n\nThe price of Oil is a key factor impacting the value of the Canadian Dollar. Petroleum is Canada\u2019s biggest export, so Oil price tends to have an immediate impact on the CAD value. Generally, if Oil price rises CAD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Oil falls. Higher Oil prices also tend to result in a greater likelihood of a positive Trade Balance, which is also supportive of the CAD.<\/p>\n<\/section>\n\nWhile inflation had always traditionally been thought of as a negative factor for a currency since it lowers the value of money, the opposite has actually been the case in modern times with the relaxation of cross-border capital controls. Higher inflation tends to lead central banks to put up interest rates which attracts more capital inflows from global investors seeking a lucrative place to keep their money. This increases demand for the local currency, which in Canada\u2019s case is the Canadian Dollar.<\/p>\n<\/section>\n\nMacroeconomic data releases gauge the health of the economy and can have an impact on the Canadian Dollar. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the CAD. A strong economy is good for the Canadian Dollar. Not only does it attract more foreign investment but it may encourage the Bank of Canada to put up interest rates, leading to a stronger currency. If economic data is weak, however, the CAD is likely to fall.<\/p>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Canadian Dollar climbs a third of a percent against Greenback after sour data patch. Canada economic data remains thin until Friday\u2019s labor figures. US data broadly softens, propping up rate cut hopes. The Canadian Dollar (CAD) gave a shaky performance on Wednesday. The Loonie was mixed against a basket of major currencies but notably climbed […]<\/p>\n","protected":false},"author":2,"featured_media":6520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,1063,247,253,249,5212,498,256,254],"class_list":["post-337031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-pmi","tag-polygon","tag-quickswap","tag-safe-moon","tag-seo","tag-usdcad","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/337031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=337031"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/337031\/revisions"}],"predecessor-version":[{"id":337035,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/337031\/revisions\/337035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/6520"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=337031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=337031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=337031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} |