Forex
USD/CAD
US dollar versus Canadian dollar — linked to oil prices and North American growth.
USD/CAD chart
- Spot FX
- Intraday · may be delayed
- FX:USDCAD
Spot USD/CAD quoted by FXCM. Spot FX has no single official price, so quotes differ slightly between providers; broker tick volume is not shown.
About the USD/CAD
USD/CAD is the number of Canadian dollars per US dollar. The Canadian dollar is nicknamed the 'loonie' after the bird on the one-dollar coin.
Canada is a large oil exporter, so crude prices have often been an important driver of CAD, alongside the outlook for the Bank of Canada relative to the Fed.
Canada's Labour Force Survey is frequently released on the same morning as US nonfarm payrolls, which can make that release window especially active for USD/CAD.
What moves USD/CAD
Common drivers. None of them determine price on their own.
- Oil prices
- Higher crude prices have often supported the Canadian dollar (lower USD/CAD), though the link varies over time.
- BoC vs. Fed
- Relative rate expectations and inflation trends in both countries.
- Trade policy
- Most Canadian exports go to the US, so trade and tariff news can be significant.
USD/CAD trading hours
Regular schedules in US Eastern time unless noted. Holidays and early closes are not shown.
| Venue | Hours | Note |
|---|---|---|
| Spot FX | Sun 5:00 p.m. – Fri 5:00 p.m. ET (24 hours on weekdays) | — |
| Most active window | New York session, approx. 8:00 a.m. – 5:00 p.m. ET | — |
Economic events that matter for USD/CAD
Why each release can move this market. Reactions depend on the surprise versus expectations and on the backdrop.
| Event | Why it can matter for USD/CAD |
|---|---|
| NFP Next: | Canada's Labour Force Survey is often released at 8:30 a.m. ET on the same morning as the US jobs report, so USD/CAD can react to two jobs reports at once. |
| FOMC Next: | The pair reflects the gap between Fed and Bank of Canada policy; because the two economies are closely linked, traders also weigh whether a Fed move is likely to be matched in Canada. |
| CPI Next: | A US inflation surprise shifts expected Fed policy relative to the Bank of Canada, moving the rate differential that USD/CAD tracks alongside oil prices. |
Also scheduled: Bank of Canada decisions, Canadian data and crude oil prices drive the other side of the pair. They are not covered on this site.
USD/CAD FAQ
How do oil prices affect USD/CAD?
Oil is a major Canadian export, so higher oil prices have tended to support the Canadian dollar, which lowers USD/CAD. The relationship weakens or reverses at times, especially when rate differentials dominate.
Why is USD/CAD active on jobs Friday?
Statistics Canada often publishes its Labour Force Survey at 8:30 a.m. ET on the same day the US releases nonfarm payrolls, so both sides of the pair get major labor data at once.