The Canadian Dollar (CAD) remains overall weaker on Thursday, though the CAD was able to eke out a stronger stance against the Greenback, with the USD getting pummeled after the Federal Reserve (Fed) cut interest rates for the first time in four years by an outsized 50 bps.
The Canadian Dollar was given a boost from Fed -weakened Greenback. Canada remains under-represented on the economic calendar. Broader markets remain more interested in other avenues following Fed cut. The Canadian Dollar remains overall weaker on Thursday, though the CAD was able to eke out a stronger stance against the Greenback, with the USD getting pummeled after the Fed eral Reserve cut interest rates for the first time in four years by an outsized 50 bps.
USD/CAD daily chart Canadian Dollar FAQs What key factors drive the Canadian Dollar? The key factors driving the Canadian Dollar are the level of interest rates set by the Bank of Canada , the price of Oil, Canada’s largest export, the health of its economy, inflation and the Trade Balance, which is the difference between the value of Canada’s exports versus its imports.
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