Save USA and Canada Bond Yield Spread
The US and Canada have close economic ties. Spread between their 10-year bond yield represents the movement of USD/CAD. Bond yield spread and Canadian dollars developed a correlation coefficient of 0.9 since 2010.
When a rate hike is expected in the US, spread widens. Funds flow into the USA and CAD will weaken. Vice versa.
USA & Canada 10-year Bond Yield Spread (L)0.00 %