The USDCAD also known as the Loonie or the Funds shows how many Canadian dollars (the quote currency) are needed to purchase one US dollar (the base currency). The U.S. dollar and the Canadian dollar is one of the most popular currency pairings in the world. This is because of the high degree of cross-border trading activity happening between these two great neighboring nations. The Canadian dollar is a commodity currency hence very dependent on world oil and natural gas prices. Most of the energy commodities flow from Canada to the U.S. while nearly half of Canada's imports come from the United States making the trade relationship between the two countries to have a significant influence on the stability of the exchange rate.