Canadian Dollar climbs across board despite Canadian PMI miss. Canada data remains thin on economic calendar until Friday’s labor data. Markets are gearing up for Friday’s US NFP print with preview data. The Canadian Dollar recovered ground on Tuesday after CAD traders shrugged off a slight misfire from Canadian Purchasing Managers Index figures. Market sentiment is broadly picking up steam and carrying the Canadian Dollar into recovery mode.
3588, but bullish momentum has failed to chalk in fresh gains since peaking just shy of 1.3850 in April. 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.