USD/CAD
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 |