Canadian dollar

The USD/CAD currency pair represents the relationship between the US dollar and the Canadian dollar and is a favored choice among currency traders due to its active trading hours, volatility, and relatively tight spreads. In this article, we will explore the key trading characteristics of USD/CAD, including its trading time, volatility, and spread, as well as factors that affect the US to CAD exchange rate, such as macroeconomic indicators, monetary policy, commodity prices, market sentiment and risk appetite, and political and geopolitical factors.

Key events: USA – Fed Chair Powell Speaks      USA – Crude Oil Inventories     Tuesday saw a resurgence in US stock indices, marking a recovery from a recent series of losses. This rebound was driven by encouraging economic data, which alleviated concerns among investors about an imminent recession resulting from the Federal Reserve's aggressive interest rate hikes.