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Today's Forex News

USD/CAD Price Analysis: Corrects from 1.3800 as US Dollar's rally stalls ahead of Fed's decision

The USD/CAD pair drops to 1.3740 in Wednesday's European session after failing to recapture the round-level resistance of 1.3800 on Tuesday. The Loonie asset corrects as firm recovery of almost 1.40$ in the US Dollar Index (DXY) appears to be stalling due to uncertainty ahead of the United States (US) Consumer Price Index (CPI) data for May and the Federal Reserve's (Fed) interest rate decision, which are scheduled in the North American session.FX Street2024-06-12

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Falls As Inflation Rate Drops To 3.3%

U.S. Dollar Index is under strong pressure as traders react to U.S. inflation data.FXEmpire2024-06-12

GBP/CAD Touches Multi-Year Highs

At the time of writing GBP/CAD was trading at CAD$1.7244, up approximately 0.2% from Tuesday's opening rate. The Canadian Dollar (CAD) faced headwinds on Tuesday amid a lack of fresh domestic data.ExchangeRates2024-06-12

Additional News:

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Currency Exchange Near Me


Chart below shows a list of currency exchange me when you are at near major interactions of Toronto.


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Foreign Exchange Reference


Currency Exchange

Currency exchange is changing one currency to another for the purpose of travel, purchase or investment. According to a study of Bank for International Settlements, daily average was more than $6 trillion trading volume. Currency Mart acts as a counter-party to an off-exchange or an over-the-counter forex transaction of cash, financial instruments, futures contracts, options on futures contracts. Currency exchange is a decentralized market and operates 24 hours per day around the globe. London, New York and Tokyo are the three major currency exchange markets and followed by cities of Hong Kong and Singapore. Decentralized market means each currency exchange broker offers its own buy in and sell out exchange rates. The rates are determined based on the demand, inventory and supply of the particular dealer and also the interbank rates at that moment. That is why exchange rates at the same moment are similar, but different broker to broker.

Currency Exchange Market of Canada

Annually, about $600 billion Canadian dollars exchanged to other currencies, over 50% is changed to US dollar and Euro dollar is the second most wanted currency. RBC is the major player in Canadian foreign exchange market. With the other four major banks, banks count 90% of market transaction volume. In addition to banks, large corporations who deal with petroleum or grains conduct massive amount of foreign exchange transactions. Licensed brokers who serve retail clients and small businesses fill up the rest of market gap.

Currency Exchange Market of New Market

Since the city of New Market lacks the headquarters of a nationwide company, the customers of currency exchange business are local residents, small businesses and tourists.

  • Local Residents
  • In Ontario, about 60% local residents are new immigrants of recent 20 years. Same figure applied to New Market too. In addition, New Market attracts more and more new immigrants every year due to the geological location and affordable housing. These new immigrant and international students bring a huge amount of capital which needs to be converted to Canadian currency.

  • Small Businesses
  • Logistics business and restaurants are 2 major customers of currency exchange business in New Market. These 2 businesses either have customers in the United States or import goods from the United States.

  • Tourists
  • Toronto Pearson Airport is located in New Market and the hotels surrounding the airport make New Market the perfect choice for tourists to stay.

Exchange Amount in New Market

The exchange amounts from a few hundreds by tourists up to 100k by small business.

Currencies Involved in New Market

  • USD
  • EUR
  • INR

Major Currency Exchange Businesses

  • International Foreign Exchange
  • Continental Foreign Exchange
  • Kantor Foreign Exchange

Currency Exchange Rate

Exchange rate is updated every 5 minutes, 24 hours a day, 7 days per week. Each exchange rate comes with 2 expressions, which express the same rate in 2 different ways. Each expression is 4 digits accuracy.

USD CAD

USD CAD exchange is the most important trading currency pair in Canada. The particular currency pair can count up to 50% of transaction volumn for a Canadian currency exchange broker. For some province, the precentage is even higher. Currency Mart as a currency exchange dealer, we always keep USD currency in stock for customers demand.

Currency Exchange New Market

A reputable currency exchange dealer is your best choice to exchange money, except those foreign exchange dealers in airports, hotel front desks and tourist hotspots.

Firstly these foreign exchange experts offer exchange rates better than banks. For a small amount exchange, not too much difference, but if the exchange amount is over thousand, the savings is more significant.

Secondly, these foreign exchange dealers keep foreign cash in stock, so customers can have foreign cash for travel right the way. On the other hand, banks and credit unions do not keep foreign cash in each branch, and take about 3 to 5 business days to bring foreign cash in.

Finally, most foreign exchange dealers take care of your leftover foreign cash by purchasing them back at the same rate as the dealers sold to you. This policy can save customers about 10% currency exchange loss.

Exchanging money at the bank is the option for a convenient and fair price.

Exchanging money at currency exchange is aiming for a better exchange rate. Please make sure you compare the exchange rate dealer by dealer before you conduct the exchange.

A currency exchange transaction can lose as little as 0.2% or as much as 4%, pending on the exchange amount.

For transaction amounts over $100,000, it is possible for customers to get an exchange rate as good as 0.2% spread. Oppositely, a $100 dollar exchange can cost customers about 4% of the exchange amount.

Historical Forex News

USD/CAD appreciates to near 1.3750 due to lower Oil prices

USD/CAD continues its winning streak for a third successive session, trading around 1.3760 during the European hours on Tuesday. US Dollar (USD) remains strong as investors adopt cautious stance ahead of the Federal Reserve's (Fed) interest rate decision scheduled on Wednesday.FX Street2024-06-11

Pound Canadian Dollar Exchange Rate News, Forecast: Flat amid Downbeat Market Mood

At the time of writing, GBP/CAD traded at around CA$1.7517, showing little movement from Monday's opening rates. The Pound (GBP) struggled against most major peers, as a downbeat market mood weighed on the increasingly risk sensitive currency.ExchangeRates2024-06-11

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Tests New Highs Ahead Of Fed Decision

Forex traders stay bullish on U.S. dollar ahead of the key event of the week.FXEmpire2024-06-11

USD/CAD Price Analysis: Rises to 1.3800 ahead of US CPI and Fed's policy decision

The USD/CAD pair jumps to near the round-level resistance of 1.3800 in Tuesday's American session. The Loonie asset strengthens as the US Dollar (USD) rises to the monthly high.FX Street2024-06-11

USD/CAD Price Analysis: Hovers above 1.3750, barrier at upper boundary of the channel

USD/CAD holds its position around 1.3760 during the early European session on Monday following the recent gains recorded in the previous trading day. Analysis of the daily chart suggests an emergence of a bullish bias for the USD/CAD pair, as it moves within the rising channel pattern.FX Street2024-06-10

Pound to Canadian Dollar Week Ahead Forecast: GBP/CAD Extends Gains following BoC Decision

... Exchange Rates UK - Exchange Rates and Foreign ExchangeExchangeRates2024-06-10

USD/CAD gathers strength to recapture 1.3800 ahead of Fed policy

The USD/CAD pair clings to gains near 1.3770 in Monday's New York session. The Loonie asset aims to extend upside as the US Dollar (USD) remains firm due to diminished Federal Reserve (Fed) rate-cut bets for the September meeting.FX Street2024-06-10

Technical Analysis – USDCAD holds within recent range

USDCAD has been swinging sideways over the past two weeks between 1.3740 and 1.3600, unable to reverse the short-term downtrend from April's peak of 1.3844.XM2024-06-07

USD/CAD Price Analysis: Consolidates around 1.3650 within a horizontal channel

USD/CAD retraces its recent losses, trading around 1.3670 during the early European hours on Friday. Analysis of the daily chart suggests a sideways direction for the USD/CAD pair, as it remains within a horizontal channel pattern.FX Street2024-06-07

Pound to Canadian Dollar Exchange Rate Jumps to Four-Year Best After BoC Rate Cut

At the time of writing the GBP/CAD exchange rate was trading at CA$1.7501. Virtually unchanged from the start of the European trading session on Thursday.ExchangeRates2024-06-07

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Rallies As Non Farm Payrolls Exceed Expectations

Forex traders bet on hawkish Fed, which is bullish for the American currency.FXEmpire2024-06-07

USD/CAD Price Analysis: Threatening to break out of triangle price pattern

USD/CAD is pushing up against the upper borderline of a large symmetrical triangle price pattern, threatening to break out to the upside. FX Street2024-06-07

USD/CAD Price Analysis: Recovers intraday losses as US Dollar rebounds with US NFP looms

The USD/CAD pair bounces back from the day's low of 1.3666 in Thursday's London session. The Loonie asset rebounds as the US Dollar recovers intraday losses.FX Street2024-06-06

USD/CAD Faces Volatile Week

This week, the USD/CAD currency pair will be influenced by numerous events and economic statistics in Canada and the United States, which could impact its direction.FXEmpire2024-06-06

USD/CAD edges lower to near 1.3650 due to improved risk appetite, higher Oil prices

USD/CAD retreats after two days of gains, trading around 1.3680 during the Asian session on Thursday. The US Dollar (USD) struggled after mixed economic data was released in the United States (US), which fueled interest rate cut speculations by the US Federal Reserve (Fed).FX Street2024-06-06

Pound Canadian Dollar Exchange Rate Forecast: GBP/CAD Movement Limited on BoC Decision Day

The Pound Canadian Dollar (GBP/CAD) exchange rate found minimal support on Wednesday, as the Bank of Canada (BoC) cut interest rates. As the rate cut was forecast, however, the impact upon exchange rates was limited.ExchangeRates2024-06-06

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Pulls Back As Initial Jobless Claims Rise

The ECB Interest Rate Decision provided some support to the European currency.FXEmpire2024-06-06

USD/CAD advances toward 1.3700 ahead of US data, BoC policy meeting

The USD/CAD pair rises toward the round-level resistance of 1.3700 in Wednesday's European session. The Loonie asset ticks higher ahead of the Bank of Canada's (BoC) interest rate policy in which it is expected to announce a rate-cut decision of 25 basis points (bps).FX Street2024-06-05

USD/CAD Price Analysis: Maintains position above 1.3650 due to weakening bearish bias

USD/CAD treads water to continue its gains for the second consecutive session, trading around 1.3680 during the European hours on Wednesday. Analysis of the daily chart suggests a bearish bias for the USD/CAD pair, as it remains within a descending channel.FX Street2024-06-05

USD/JPY, USD/CAD implied volatility perks up, BOC and ISM up next

The risk-off tone that kicked off the week continued to make waves on Tuesday, sending commodities and yields lower, although Wall Street indices remain reluctant to fully roll over. We are now approaching a binary data point from the US today via the ISM services report.Forexcom2024-06-05

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Gains Ground As ISM Services PMI Beats Expectations

Forex traders ignored falling Treasury yields and focused on the strength of the U.S. services sector.FXEmpire2024-06-05

USD/CAD rises after BoC cuts interest rates, US Services PMI rises

USD/CAD trades higher by about 0.2% in the 1.3700s on Wednesday after the Bank of Canada (BoC) governing council decides to reduce its key interest rate by 0.25% to 4.75%, following its June policy meeting. The decision weighs on the Canadian Dollar (CAD) since lower interest rates attract less foreign capital inflows.FX Street2024-06-05

USDCAD: Influence of Linear Regression Channel and BoC

The BoC has maintained its official interest rate at 5.0% since July 2023, and markets expect it to cut its overnight rate by 25 basis points (bps) to 4.75% due to signs of cooling inflation in Canada. This decision will highlight the monetary policy divergence between the BoC and the Fed, potentially boosting the USD.Action Forex2024-06-05

USD/CAD forecast: Investors eye BOC and ISM PMI ahead of NFP

After a data-driven slump on Monday, the US dollar has shown slight strength against most major currencies, remaining positive territory as of mid-morning in the European session on Wednesday. The second half of the week will be busier for the greenback, with numerous top-tier data releases expected.Forexcom2024-06-05

Technical Analysis – AUDCAD consolidates above key support zone

AUDCAD has been trading in a sideways manner since May 15, staying between the key support of 0.9045 and the 0.9125 resistance. In the bigger picture, the pair remains above the upper bound of an upward sloping channel, as well as above all three of the plotted moving averages, which means that the bulls could take charge again very soon.XM2024-06-05

USD/CAD Price Analysis: Rises toward 1.3700 despite a bearish bias

USD/CAD halts its three-day losing streak, trading around 1.3680 during the European hours on Tuesday. The appreciation of the pair is attributed to the decline in crude Oil prices, given the fact that Canada is the largest Oil exporter to the United States (US).FX Street2024-06-04

Pound Canadian Dollar Exchange Rate Firms amid Canada's Manufacturing Downturn

At the time of writing the GBP/CAD exchange rate was trading at CAD$1.7398, up approximately 0.2% from Monday's opening rate. The increasingly risk-sensitive Pound (GBP) edged higher against its safer rivals on Monday amid an increasing appetite for risk.ExchangeRates2024-06-04

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Gains Ground As Traders Focus On JOLTs Report

Falling Treasury yields did not put any pressure on the American currency.FXEmpire2024-06-04

USD/CAD aims to surpass 1.3700 ahead of BoC policy and US NFP

The USD/CAD pair finds temporary resistance near the round-level barrier of 1.3700 in Tuesday's New York session. The Loonie asset is poised to deliver more upside as investors expect the Bank of Canada (BoC) to announce a rate-cut decision in its monetary policy meeting on Wednesday.FX Street2024-06-04

USD/CAD Faces Volatile Week

This week, the USD/CAD currency pair will be influenced by numerous events and economic statistics in Canada and the United States, which could impact its direction.FXEmpire2024-06-03

USD/CAD advances to 1.3650 as US Dollar recovers, BoC policy in focus

The USD/CAD pair jumps to 1.3660 in Monday's European session. The Loonie asset strengthens as the US Dollar (USD) extends recovery due to uncertainty among market participants ahead of a United States (US) data-packed week.FX Street2024-06-03

USD/CAD trades with modest losses below 1.3650, eyes on Canadian/US PMI data

USD/CAD trades with modest losses below 1.3650, eyes on Canadian/US PMI dataFX Street2024-06-03

Pound Canadian Dollar (GBP/CAD) 5-Day Forecast: Pivots on US Central Bank Forecasts

The Pound Canadian Dollar (GBP/CAD) exchange rate inched higher through the majority of last week's session but crashed during Friday's Asian session as markets' attention turned to the latest US PCE price index. The prospect of sustained inflationary pressures in the US stoked fears of hawkish policy action from the Federal Reserve,.ExchangeRates2024-06-03

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Retreats As ISM Manufacturing PMI Misses Expectations

U.S. Dollar Index tests weekly lows as traders focus on the disappointing ISM Manufacturing PMI report.FXEmpire2024-06-03

Weekly Technical Outlook – USDJPY, EURUSD, USDCAD

The Fed is not expected to cut interest rates before September according to futures markets, and although the wolves of Wall Street are not fond of this scenario, the US dollar can enjoy more winning moments in FX markets.XM2024-06-03

USD/CAD forecast: Currency Pair of the Week – June 3, 2024

The US dollar was a little stronger against most major currencies except the yen during the early European trade. It will be a busy week for the greenback with lots of top-tier data releases to come, starting with the ISM manufacturing PMI on Monday.Forexcom2024-06-03

Instrument of the Week (June 3—7): EURCAD Outlook

The EURCAD pair represents the exchange rate between the Euro and the Canadian Dollar and is a vital measure of the relative economic health of the Eurozone and Canada. The Euro value is influenced mainly by economic activities and monetary policies within the Eurozone, including fiscal stability and economic growth rates of member countries such as Germany and France.Action Forex2024-06-03

USD/CAD declines to 1.3650 as US Dollar retreats with US core PCE Inflation in focus

The USD/CAD pair extends its downside to 1.3650 in Friday's European session. The Loonie asset comes under pressure as the US Dollar struggles to gain ground despite uncertainty ahead of the United States core Personal Consumption Expenditure Price Index (PCE) data for April, which will be published at 12:30 GMT.FX Street2024-05-31

GBP/USD Dips While USD/CAD Eyes More Gains

On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2800 zone after a decent increase, as mentioned in the previous analysis. The British Pound traded below the 1.2740 support to again move into a short-term bearish zone against the US Dollar.Action Forex2024-05-31

Technical Analysis – USDCAD meets uptrend line again and again

USDCAD has been rebounding off the medium-term ascending trend line over the last couple of weeks, remaining in a positive territory. However, the pair is also finding strong resistance around the 1.3740 barricade with the short-term simple moving averages (SMAs) suggesting a potential bearish crossover.XM2024-05-31

Pound Canadian Dollar (GBP/CAD) Exchange Rate Forecast: Near Multi-Year High

At the time of writing the GBP/CAD exchange rate was trading at CAD$1.7434, virtually unchanged from Thursday's opening rate. The Pound (GBP) fluctuated against its major rivals on Thursday amid an ongoing lack of fresh UK releases.ExchangeRates2024-05-31

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Rebounds From Session Lows

U.S. Dollar Index is trying to settle back above the support at 104.40 – 104.60.FXEmpire2024-05-31

USD/CAD remains on backfoot after steady US PCE Inflation and Canada's weak GDP

The USD/CAD pair remains vulnerable near 1.3630 as the United States Bureau of Economic Analysis (BEA) has reported that the Personal Consumption Expenditure Price Index (PCE) report for April was broadly in line with market expectations.FX Street2024-05-31

US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD, USD/JPY, Gold

The weekly bar of the US Dollar is currently showing as a spinning top but that doesn't really tell the story of the currency's price action. Last week showed a strong response to resistance at the 105-105.13 zone, which led to a fast snap back that held through this week's open.Forexcom2024-05-31

USD/CAD Price Analysis: Strengthens after Descending Triangle breakout

The USD/CAD pair extends its upside to 1.3730 in Thursday's London session. The Loonie asset strengthens as investors expect that Bank of Canada (BoC) will start reducing interest rates from the June meeting.FX Street2024-05-30

USD/CAD advances toward weekly high near 1.3740 amid firm US Dollar

The USD/CAD pair establishes itself above the round-level resistance of 1.3700 in Thursday's Asian session. The Loonie asset aims to recapture weekly high near 1.3740 as the US Dollar strengthens.FX Street2024-05-30

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Pulls Back As Treasury Yields Fall

U.S. dollar found itself under pressure as traders reacted to U.S. economic reports.FXEmpire2024-05-30

Forex Seasonality – June 2024: Potential for EUR/USD and AUD/USD Rallies, USD/CAD Drop

The beginning of a new month marks a good opportunity to review the seasonal patterns that have influenced the forex market over the 50+ years since the Bretton Woods system was dismantled in 1971, ushering in the modern foreign exchange market.Forexcom2024-05-30

USD/CAD Recovers Ahead of Monthly Low to Preserve Ascending Channel

USD/CAD bounced back ahead of the monthly low (1.3590) to hold within the ascending channel from earlier this year, but the exchange rate may face range bound conditions if it clear the monthly high (1.3784).Forexcom2024-05-30

USD/CAD climbs to near 1.3700 as US Dollar extends recovery amid dismal market mood

The USD/CAD pair jumps to near the round-level resistance of 1.3700 in Wednesday's New York session. The Loonie asset strengthens as the US Dollar extends recovery.FX Street2024-05-29

USD/CAD extends downside to 1.3600 amid soft US Dollar

The USD/CAD pair drops further to near the round-level support of 1.3600 in Tuesday's Asian session. The Loonie asset is under pressure as the US Dollar (USD) weakens even though traders seethe Federal Reserve (Fed) keeping interest rates steady in the September meeting.FX Street2024-05-28

Pound to Canadian Dollar Week Ahead Forecast: GBP/CAD Soars despite Mixed UK Data, Election Announcement

The British Pound firmed against the Canadian Dollar last week in spite of disappointing retail and PMI data, as core inflation eased in Canada. At the time of writing, GBP/CAD is trading at C$1.7446, having traded approximately 1.1% higher in the past seven days.ExchangeRates2024-05-28

EUR/USD, GBP/USD, USD/CAD, USD/JPY Forecasts – U.S. Dollar Pulls Back Despite Rising Treasury Yields

The strong CB Consumer Confidence report did not provide sufficient support to the American currency.FXEmpire2024-05-28

USD/CAD finds interim support near 1.3600 as focus shifts to US core PCE Inflation data

The USD/CAD pair finds a temporary cushion near the round-level support of 1.3600 in Tuesday's New York session. The Loonie asset finds buying interest as the US Dollar shows some signs of recovery after posting fresh weekly low.FX Street2024-05-28

Canadian Dollar Forecast: USD/CAD Bounces from 1.3600 Support, Key Data Looms

The FX market remains relatively quiet on the first “real” trading day of the week, with a touch of broad strength in the US dollar standing out as the most notable development. The rally in the greenback is being driven by rising US Treasury yields, which in turn can be chalked up to two key developments.Forexcom2024-05-28

Pound Canadian Dollar (GBP/CAD) Flat Despite Upbeat UK Retail Data

At the time of writing, GBP/CAD traded at around CA$1.7426, showing little movement from Tuesday's opening rates. The Pound (GBP) struggled to attract significant support during Tuesday's session, despite upbeat retail sales data from the Confederation of British Industry (CBI).ExchangeRates2024-05-28