What are the technical indicators for US dollar / Canadian dollar?

The summary of U.S. Dollar / Canadian Dollar is based on the most popular technical indicators, such as Moving Averages, Oscillators and Pivots. Learn more This info isn't a recommendation for what you should personally do, so please don't take the data as investment advice. As with any trade, always look first, then leap.

Why is CAD considered a commodity currency?

The CAD is considered to be a commodity currency because of the large amount of natural resources, especially oil, that are mined and exported to southern neighbors. The USDCAD is one of the most traded currency pairs in the world.

Are CAD & USD correlated?

Since November 2 nd, the USD/CAD has moved from 1.3350 to today’s low near 1.2688. During that that same period, West Texas Intermediate has moved from a low of 33.62 to today’s high hear 48.57. Crude oil is one of Canada’s largest exports, so it’s not surprising to see that the two instruments are correlated.

What is the correlation between USD/CAD and WTI?

The current correlation between USD/CAD and WTI is -.87. For reference, when to instruments have a negative correlation of -1.00, they are considered perfectly negatively correlated and they move in opposite directions 100% of the time. A correlation coefficient of -.87 is considered a highly negative correlation.