USD/CAD - Rate, Chart, Analysis & News

USD/CAD is a Forex ticker that represents the price it will cost you in Canadian Dollars to buy 1 USD. FX currencies are shortened to three-letter abbreviations for ease and are called ISO codes. The Forex market trades in these currency pairs and have a quote structure of Base/Quote (USD/CAD).

The live USD/CAD rate is shown below in an interactive chart that you can use for technical analysis. Our real-time news and analysis will keep you up to date with factors affecting the price movements of USD/CAD, both fundamental and technical.

USD/CAD Currency Chart

Recommended Forex Brokers to Trade USD/CAD

Special Offer
Min Deposit
Spreads From
Max Leverage
Start Trading
No commissions
0.8 PIPs
Forex trading involves significant risk of loss and is not suitable for all investors.
Spreads From 0.8 PIPs
Max Leverage 30:1
Min Deposit $50
Register now

USD / CAD Explained

The USD/CAD currency pair represents the pairing of the currencies for North American powerhouses  U.S. Dollar against the Canadain Dollar. The value of this currency pair is based on how the price of the CAD compares to 1 USD.

This is one of the more popular currency pairings for those looking to get exposure into North American markets.

What influences price of USD/CAD

With the close proximity between both nations, any move in the domestic production or output of  either nation usually influences this pairing. From rate decisions by the BOC and FED respectively, to GDP numbers, Unemployment rates, retail sales etc, we will traditionally see the CAD weaken or strengthen against USD. News which is positive for USD may see a weaker CAD, and negative news or data will see CAD gain on USD.

The biggest such example of a significant move in USD/CAD trading in 2019 came when we saw CAD move from $1.35 in May to $1.30 in June. 

This run was caused by a reduction in US interest rates and growing trade tensions between the US and China.


What is the best broker to trade the USD/CAD pair?

There are many online brokers that support day trading of the USD/CAD pair. We are constantly evaluating new and existing brokers to recommend the most reliable ones. For more information, you can go to our page that reviews and compares the best Forex brokers to learn more about the different platforms where you can trade USD/CAD.

When I trade the USD/CAD pair will I own the actual currency?

No. CFDs allow you to speculate on rises and falls in the currency pair without having physical ownership. With CFDs, you only have to put in a fraction of the market value of the underlying asset when making a trade. Unlike investing, when you trade CFDs, you are not buying or trading the underlying asset. What you are buying/selling is a contract between yourself and the CFD provider.  

How to trade the USD/CAD pair?

Trading the USD/CAD pair is connected to a lot of volatility in price movements,  which can often be sharp and unexpected. This pair is ever changing due to the various factors which influence it. As a result of this, it is necessary to have a large level of margin in the event you have errors in entering a position in times of volatility. Traders should also consider where they place stop losses to avoid quick and big losses should the markets go against them, and take profits, to secure gains from winning trades.