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US Dollar/Canadian Dollar (USD/CAD)
Written by Aboutcurrency
THE USD/CAD rate is composed of the US Dollar "base currency" and the Canadian Dollar "quote currency".
The US Dollar/Canadian Dollar (USD/CAD) reflects the relation of the US Dollar trading against the Canadian Dollar (1 USD per x CAD). For instance, If the USD/CAD quotes at 1.0000, then 10,000 US Dollars would equal 10,000 Canadian Dollars (because 10,000 x 1.0 = 10,000). This simply means that 1 US Dollar buys you 1 Canadian Dollar.
Trading Characteristics Of The USD/CAD
- One of the major currency pairs on the forex market.
- Typical forex broker spread: 3-4 pips
- Most active trading sessions: London and New York
- 5 Year Average Daily Range: 101 pips
- Who trades the US Dollar vs Canadian Dollar? Central banks, financial institutions, retail traders,...
USD/CAD Forex Trading Tips:
- Recommended level of forex experience: Advanced
- Best trading sessions for daytraders: London and New York
- Worst times to trade: Holidays and before major economic news events
- Most common used USD/CAD forex charts: Daily, 4 Hour and 1 Hour
- Best forex brokers to trade USD/CAD: Click here >>>
- Forex trading strategies to trade US Dollar Canadian Dollar: Click here >>>
- Best forex trading system to trade US Dollar Canadian Dollar: Click here >>>
US Dollar/Canadian Dollar Historical Chart
Top 3 Economic Events That Move USD/CAD
FOMC Rate Decision + Press Conference
Bank of Canada Rate Decision
US Employment (Non Farm Payrolls) |
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