USD/CAD Forex Trading
The role of commodities and close trading links make USD/CAD an exciting forex pair to trade. Sign up with FXOpen now and take full advantage.
USD/CAD live charts
Available on desktop and via the FXOpen mobile app, our USD/CAD live charts can be a vital source of information. Updated to show the latest USD/CAD forex rates, our charts also offer detailed insights into historic trends. With this information, the most informed positions can be taken. When capital is at stake when trading USD/CAD, only the most reliable insights will do.
What is USD/CAD trading?
With high volumes of cross-border trade, trading the United States Dollar/Canadian Dollar pair offers a great deal of potential. This pair measures the price of the United States Dollar (USD) against its Canadian equivalent (CAD). The USD/CAD forex pair – also called "the Loonie" – is one of the most traded pairs on the market. As such, it can also be one of the most liquid. USD/CAD shares similarities with the AUD/USD pair in that it's considered to be a commodity pair due to its correlation with the price of natural resources – crude oil especially. USD/CAD forex trading can also be seen as relatively unique. The currencies are used by nations in the same geographic region, which can help investors keeping a watch over its price movements.
Key drivers of USD/CAD prices
As the Loonie is regarded as a commodity pair, the global market often have a sizeable effect on USD/CAD prices. In addition, the US is one of Canada's most integral trading partners. So, it's important to pay attention to anything that affects demand or consumer confidence in the US. Any fall in these areas can have a knock-on effect on Canada's export inventory. The political will of the US administration is a consideration if you want to trade USD/CAD too. From a Canadian perspective, President Biden's 'Buy American' pledge does little to unroll the trade tensions stoked during President Trump's tenure. And it acts as the counterbalance to a growing Canadian economy that would otherwise exert its own pull on the USD/CAD price.
The best times to trade USD/CAD
At FXOpen, it’s possible to trade USD/CAD 24/7. Ultimately, it'll all come down to the strategy that works for you. But you can't trade USD/CAD with us until you sign up for an account. So, why not do that today and start trading with ease?