Canadian Dollar climbed on Friday, but Greenback remains popular bid. Canada added far more jobs than expected in April. US consumer sentiment tumbled, Fedspeak crimping rate cut hopes. The Canadian Dollar surged on Friday after the Canadian economy added five times as many jobs as analysts expected. However, risk-off market sentiment is limiting the CAD’s gains as the Greenback remains a popular destination for investors leery of hawkish Fedspeak and sour US consumer sentiment data.
USD/CAD hourly chart 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.