Sales: Retail Trade: Total Retail Trade: Volume for Canada
Canadian Dollar, Monthly level, Monthly
CANSLRTTO01MLSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,242,000,000.00
Year-over-Year Change
2.79%
Date Range
1/1/1991 - 10/1/2023
Summary
The Canadian Dollar, Monthly level, Monthly series tracks the value of the Canadian dollar against the U.S. dollar on a monthly basis. This metric is closely monitored by economists and policymakers to assess Canada's international trade competitiveness and the health of its economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Canadian Dollar, Monthly level, Monthly series represents the monthly average exchange rate between the Canadian dollar and the U.S. dollar. This exchange rate is a key indicator of Canada's economic performance and is used to analyze trade flows, inflation, and the overall strength of the Canadian economy.
Methodology
The data is collected by the U.S. Federal Reserve through daily observations and then averaged to produce the monthly level.
Historical Context
The Canadian dollar exchange rate is an important consideration for policymakers at the Bank of Canada and other institutions when making decisions about monetary and fiscal policy.
Key Facts
- The Canadian dollar is the 5th most traded currency in the world.
- Canada is the United States' largest trading partner.
- The Canadian dollar's value is influenced by commodity prices, especially oil.
FAQs
Q: What does this economic trend measure?
A: The Canadian Dollar, Monthly level, Monthly series measures the monthly average exchange rate between the Canadian dollar and the U.S. dollar.
Q: Why is this trend relevant for users or analysts?
A: This exchange rate is a key indicator of Canada's economic performance and competitiveness, and is closely watched by economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through daily observations and then averaged to produce the monthly level.
Q: How is this trend used in economic policy?
A: The Canadian dollar exchange rate is an important consideration for policymakers at the Bank of Canada and other institutions when making decisions about monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a short delay, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Canadian Dollar, Monthly level, Monthly (CANSLRTTO01MLSAM), retrieved from FRED.