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The USDCAD is the “US dollar versus Canadian dollar” currency pair, which is quite popular due to intense cross-border trading activity which is going on between the United States and Canada.

The Canadian dollar is often considered a 'commodity-exposed currency' because it is driven largely by the trade of natural resources, especially oil.

It is the 7th most commonly traded currency in the world, and can be denoted with either a traditional '$' sign, or 'C$' to differentiate it from other Dollar-based currencies.

It is often called “The Loonie”, because of the loon bird that draws the attention on the $1 Canadian coin.