The Canadian Dollar (CAD) is the currency of Canada and is used as a unit of exchange in many financial markets. It is often referred to as the "Loonie", due to the image of a loon on its back.
The CAD is a major currency and is included in many international currency trading baskets. Investors use the CAD as a safe haven asset, as it is seen as a relatively stable currency. It is also a popular currency to hedge against other currencies, such as the US Dollar.
In addition, the CAD is used in many commodities markets, such as crude oil and gold, to hedge against currency fluctuations. As a result, the CAD is seen as an important currency for international investors.