- USD/CAD edges higher, when the American dollar strengthens because of the optimism surrounding potential trade transactions in the USA.
- Washington seems to be progressing in early professional discussions with Asian allies, including South Korea and Japan.
- The Canadian dollar remains under pressure, because Trump suggested that a 25% tariff for Canadian car import can be raised.
USD/CAD regains the last losses from the previous session, trading around 1.3870 at Asian hours on Friday. The couple gains as the US dollar strengthens (USD), supported by optimism surrounding potential trade transactions in the USA. According to Reuters, Washington seems to be progressing in early professional discussions with Asian allies, including South Korea and Japan.
However, Greenback encountered some pressure after Thursday’s release of preliminary data on the unemployed claims. The United States Department of Work announced that the claims increased to 222,000 in the week ending on April 19, slightly exceeding expectations and compared to the changed number of 216,000 from the previous week. Meanwhile, continuous unemployed claims fell by 37,000 to 1.841 million in the week ending on April 12.
Neel Kashkari, the president of Minneapolis Fed, expressed concern at the end of Thursday about the potential of future releases in connection with continuous uncertainty. Although he noticed that there was no noticeable escalate in exemptions yet, apparently some companies are preparing for this possibility if uncertainty persists. Kashkari added that resolving commercial tensions can alleviate fears and support more hopeful perspectives.
In addition, the USD/CAD pair gained further support because the Canadian dollar (CAD) was under pressure after the comments of US President Donald Trump on Wednesday. Trump suggested that 25% tariff for the import of Canadian cars can be raised, strengthening his involvement in providing a trade agreement with Canada. He emphasized that the goal is to strengthen American car production and reduce dependence on foreign vehicles, according to Reuters.
Canadian dollar price today
The table below shows a percentage change in the Canadian dollar (CAD) compared to the stock exchange main currencies. The Canadian dollar was the weakest in relation to the American dollar.
| USD | EUR | GBP | JPy | BOOR | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.39% | 0.28% | 0.23% | 0.11% | 0.23% | 0.25% | 0.42% | |
| EUR | -0.39% | -0.11% | -0.15% | -0.30% | -0.15% | -0.13% | 0.02% | |
| GBP | -0.28% | 0.11% | -0.04% | -0.17% | -0.03% | -0.02% | 0.11% | |
| JPy | -0.23% | 0.15% | 0.04% | -0.12% | -0.02% | -0.02% | 0.14% | |
| BOOR | -0.11% | 0.30% | 0.17% | 0.12% | 0.04% | 0.14% | 0.28% | |
| Aud | -0.23% | 0.15% | 0.03% | 0.02% | -0.04% | 0.02% | 0.15% | |
| NZD | -0.25% | 0.13% | 0.02% | 0.02% | -0.14% | -0.02% | 0.13% | |
| CHF | -0.42% | -0.02% | -0.11% | -0.14% | -0.28% | -0.15% | -0.13% |
The heat map shows percentage changes in the main currencies towards each other. The basic currency is collected from the left, and the quote currency is collected from the upper order. For example, if you choose a Canadian dollar on the left column and move along the horizontal line to the American dollar, the percentage shift displayed in the field will represent CAD (Base)/USD (quote).
