Canadian Dollar CAD is also known as Loonie. USD/CAD is one of the major pairs that currency traders love to trade. Canada’s dollar slid to the weakest level in almost two months as data showing the economy expanded in May failed to damp concern growth is lagging behind that of the U.S., the nation’s largest trading partner. If you are trading USD/CAD pair, you should keep a close watch on the Canadian economy as well as the actions of the Canadian Central Bank. Without combining the fundamentals with the technicals you wont be able to become a successful forex trader.