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CAD definition
CAD is the currency code for the Canadian dollar, the official currency of Canada. In forex it trades in pairs such as USD/CAD, CAD/JPY, and EUR/CAD.
CAD can sit on either side of a pair. It is the base currency in CAD/JPY and the quote currency in USD/CAD. The Bank of Canada issues it.
CAD is a commodity-linked currency. Because Canada is one of the world's largest oil exporters, the Canadian dollar tends to track crude oil prices, and it also moves on Bank of Canada policy, inflation data, employment reports, and US economic conditions.
CAD Example
You look at USD/CAD = 1.3500, so one US dollar equals 1.3500 Canadian dollars.
If USD/CAD rises to 1.3700, the US dollar has gained against CAD. If USD/CAD falls to 1.3300, CAD has gained against the US dollar.
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