It also didn’t hurt that Australia’s manufacturing and PMIs printed upside surprises during the Asian session. There weren’t a lot of top-tier reports scheduled in the last trading sessions but traders were pretty happy that property developer China Evergrande Group managed to pay interest payments due on September 23. What to Watch: USD/CAD USD/CAD 1-hour Forex Chart This currency pair belongs to the majors group as it contains the US dollar, which is recognised as the most powerful and popular currency in the world. Crude oil adds 3.6 to 81.93, sets new seven-year highs on four of. If you’re not familiar with the forex market’s main trading sessions, check out our Forex Market Hours tool. The USDCAD is the ticker for the US dollar (USD) to the Canadian dollar (CAD) exchange rate in the forex trading markets. USD/CAD: A resource economy in a world of shortages Canadian dollar finishes at its best level since July 5, up 3.6 in a month. Markit manufacturing and sales PMIs at 1:45 pm GMTįOMC Chairman Powell to talk “ Monetary and financial stability challenges to central banks in the wake of COVID-19” at 3:00 pm GMT U.K.’s manufacturing and services PMIs at 8:30 pm GMTĬanada’s retail sales numbers at 12:30 pm GMT 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 Canadian Dollar is a very popular currency pair due to the extremely large amount of cross border trading that occurs between the U.S. A collapse in the price of oil at the end of 2015 had a huge effect on the USD CAD rate as the Canadian dollar weakened from a position of parity against the US. USD CAD (US Dollar / Canadian Dollar) The US Dollar vs. It is a key indicator of both the health of Canada’s currency and economy in general. This variance equates to 41.4 over the last 30 days. USD CAD news is heavily aligned to trading on the global commodities market particularly oil. Using the 30 day high exchange rate of 1.2907, a sum of 1,000 would be worth 1,290.7, while at the 30 day low of 1.2493 it would be worth 1,249.3. consumer confidence drops for third consecutive month in Octoberīottlenecks continue to brake German growth, inflation mounts – PMIĮuro zone inflation expectations hit highest level in years Upcoming Potential Catalysts on the Economic Calendar: At the exchange rate of 1.27685 on 17th September 2021, a sum of 1,000 is worth 1,276.85. Japan’s prices rise for first time in 18 months on energy costsĪustralia manufacturing PMI climbs from 56.8 to 57.3 in October – MarkitĪsian tech shares jump, China property stocks rally as Evergrande makes payment Japan manufacturing PMI accelerates in October China’s government land sales slumped for a second month as demand from private developers further softened following tighter regulations on fresh borrowing