The Canadian Dollar (CAD) is broadly higher on Monday, kicking off the new trading week with an across-the-board recovery thanks to easing bidding pressure in other categories rather than any bullish tilt within the CAD itself.
The Canadian Dollar rose another quarter percent against the Greenback. Canada has a fresh GDP update looming ahead later in the week. Markets are recovering their composure after a Fed splurge last week. The Canadian Dollar is broadly higher on Monday, kicking off the new trading week with an across-the-board recovery thanks to easing bidding pressure in other categories rather than any bullish tilt within the CAD itself.
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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