The USD/CAD currency pair expresses the value of one US dollar in Canadian dollars.

Known informally as the loonie, the Canadian dollar is the world’s seventh most traded money and a number of central banks keep it as a reserve currency.

Its value in relation to the US dollar, as well as other major currencies, is heavily influenced by oil prices.

This is because Canada has vast oil reserves – second only to Saudi Arabia – and is a major producer of the commodity, with 99 per cent of its crude oil exports sent to the US.

The price of oil therefore acts as a leading indicator for the movement of the USD/CAD pair. When oil prices grow up, USD/CAD falls because the value of the Canadian dollar appreciates.

Product Specifications and Information

Product Name USD/CAD
Trading Exchange Spot
leverage up to 1:400
Minimum Fluctuation 0.00001
Spread 2 pips
Lot Size 100,000
Trading Hours Sunday 21.03 to Friday 20.58 GMT Time
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