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What is US Dollar / Canadian Dollar?
The USD/CAD pair tracks the U.S. dollar against the Canadian dollar, and is closely linked to oil prices given Canada's status as a major oil exporter.
Because the United States and Canada are major trading partners with deeply connected economies, USD/CAD often reflects relative economic data and central bank policy between the two countries.
How to Trade US Dollar / Canadian Dollar — Exchanges, Strategies & Risk Management
Where USD/CAD is traded
USD/CAD is traded through forex brokers and banks worldwide, available nearly 24 hours a day during the global forex trading week.
Common trading approaches
Because the Canadian dollar is closely linked to oil prices, some traders follow crude oil markets alongside Bank of Canada and Federal Reserve policy decisions when trading this pair.
Risk management basics
USD/CAD can be affected by sharp moves in oil prices in addition to interest rate policy news. As with other leveraged forex trading, position sizing and stop-loss levels are commonly used to manage risk.
This section is educational and general in nature — it is not personalized financial advice. Any trading or investment decision should be based on your own research and risk tolerance.
Key facts
- Nicknamed "the loonie" pair, after the bird on the Canadian dollar coin
- Correlated with crude oil prices
- Reflects close US-Canada trade ties
Quick answers
What is the USD/CAD pair?
USD/CAD tracks the value of the U.S. dollar against the Canadian dollar.
Why is USD/CAD linked to oil prices?
USD/CAD is linked to oil prices because Canada is a major oil exporter, and oil revenue affects the Canadian dollar's value.
Why is USD/CAD called "the loonie" pair?
The Canadian dollar is nicknamed "the loonie" after the loon bird depicted on the Canadian one-dollar coin.
Where can I view live USD/CAD charts?
You can view a live, interactive USD/CAD chart above, or open it in the full multi-chart grid using the button on this page.
Why is the Canadian dollar linked to oil prices?
Canada is a major oil exporter, so its currency often shows some correlation with crude oil prices — rising oil prices can sometimes support the Canadian dollar, though many other factors are also at play.
What tends to influence USD/CAD movement?
Bank of Canada policy, oil price trends, and the broader US economic outlook are among the key factors that traders and analysts watch for this pair.