Canadian Dollar ($CAD_USD) Forex Forecast: Down 0.6% Today

What is Canadian Dollar?

The CAD/USD currency pair represents the value of the Canadian dollar in terms of the US dollar. The Canadian dollar, also known as the loonie, is influenced by various factors including economic data, commodity prices, and geopolitical events.

Why is Canadian Dollar going down?

CAD_USD forex is down 0.6% on Jan 31, 2025 18:35

• There was a significant decrease in the CAD/USD pair following an announcement of 25% tariffs on Canada by a political figure, negatively impacting the Canadian dollar.
• The tariffs were implemented due to concerns related to illegal immigration, trade deficits, and fentanyl trafficking, resulting in a devaluation of the Canadian dollar.
• The Mexican peso also saw a decline in value in conjunction with the Canadian dollar, illustrating a widespread effect on North American currencies.
• Geopolitical tensions stemming from the tariffs contributed to an increase in oil prices a commodity highly influenced by such events, consequently influencing market movements.

CAD_USD Price Chart

CAD_USD Technical Analysis

CAD_USD News

Trump Slaps 25% Tariffs On Canada, Mexico: Loonie, Peso Slide, Oil Climbs - Invesco CurrencyShares Canadian Dollar Trust ( ARCA:FXC ) , SPDR S&P 500 ( ARCA:SPY )

Trump confirms 25% tariffs on Canada, Mexico starting Feb. 1, citing illegal immigration, trade deficits and fentanyl trafficking concerns. Canadian dollar and Mexican peso tumble; USD/CAD hits 1.4480, USD/MXN rises to 20.60, while oil prices edge higher. It was in the air, but now it's official.

https://www.benzinga.com/government/regulations/25/01/43353698/trump-slaps-25-tariffs-on-canada-mexico-loonie-peso-slide-oil-climbs

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Canadian Dollar Price History

26.10.2024 - CAD_USD Forex was down 1.3%

• The bearish movement in the CAD/USD pair could be attributed to potential strength in the US dollar following the announcement of cash distributions for Invesco's ETFs.
• Investors may have shifted their focus towards US assets, leading to a decrease in demand for the Canadian dollar and subsequently causing the pair to decline.
• The cash distributions for Invesco's ETFs might have influenced market sentiment, prompting traders to reposition their portfolios in favor of USD-denominated assets, impacting the CAD/USD exchange rate negatively.

31.00.2025 - CAD_USD Forex was down 0.6%

• There was a significant decrease in the CAD/USD pair following an announcement of 25% tariffs on Canada by a political figure, negatively impacting the Canadian dollar.
• The tariffs were implemented due to concerns related to illegal immigration, trade deficits, and fentanyl trafficking, resulting in a devaluation of the Canadian dollar.
• The Mexican peso also saw a decline in value in conjunction with the Canadian dollar, illustrating a widespread effect on North American currencies.
• Geopolitical tensions stemming from the tariffs contributed to an increase in oil prices a commodity highly influenced by such events, consequently influencing market movements.

13.01.2024 - CAD_USD Forex was down 0.4%

• The bearish movement in the CAD_USD currency pair today could be attributed to the following factors:
• 1. Trade Deficit: Canada ended 2023 with a slight trade deficit in December. A trade deficit occurs when a country's imports exceed its exports, indicating a higher demand for foreign goods and potentially weakening the country's currency. This could have contributed to the bearish movement in the CAD_USD pair.
• 2. Weakening Canadian Economy: The trade deficit could be an indication of a weaker Canadian economy, which may have led to a decrease in investor confidence and a subsequent sell-off of the Canadian dollar. This selling pressure could have contributed to the bearish movement in the CAD_USD pair.
• 3. Market Sentiment: Other factors such as overall market sentiment, global economic conditions, or geopolitical events could also have influenced the bearish movement. It's important to consider these broader factors when assessing currency pair movements.
• In summary, the bearish movement in the CAD_USD currency pair today could be attributed to the trade deficit in Canada, indicating a potential weakening of the Canadian economy and a decrease in investor confidence.