The US Dollar vs. Canadian Dollar (USD/CAD) is one of the most actively traded currency pairs globally, reflecting the close economic ties between the United States and Canada. Known as the "Loonie," the Canadian dollar is heavily tied to commodity prices, particularly crude oil, since Canada is a major energy exporter. The pair responds to oil price movements, interest rate decisions from the Federal Reserve and Bank of Canada, cross-border trade dynamics, and broader economic data from both countries.