Trading the USDCAD Forex Pair

Submitted by currenciesfx on Fri, 04/15/2022 - 10:07
Trading the USDCAD Forex Pair

The US Dollar against the Canadian Dollar. USDCAD is a medium-volatility financial asset and a relatively liquid Forex pair. USDCAD is highly correlated to the price of crude oil.

USDCAD TRADING

Canada is a major commodity exporter, and that includes crude oil, natural gas, ferrous metals, and non-ferrous metals. Canada exports about 2 million oil barrels to the United States daily. Overall, 85% of all Canadian exports are going to the United States.

  • Best Time to Trade: between 01:00 GMT and 09.00 GMT
  • Best Months to go Long:  OCTOBER
  • Best Months to go Short:  APRIL
  • Correlations: CRUDE OIL ( a positive correlation of 0.75-0.80)

USDCAD STATISTICS

Important statistics regarding USDCAD.

Table: USDCAD statistics

USDCAD AVERAGE MONTHLY STATISTICS
 (JANUARY 2000 - SEPTEMBER 2018)
MONTH MONTHLY RETURNS BULLS      TIMES (↑) BEARS    TIMES (↓) VOLATILITY MOMENTUM  (ΔMP)
 (1) JANUARY 0.50% 11 8 0.77% -0.34%
 (2) FEBRUARY 0.19% 8 10 0.71% -0.37%
 (3) MARCH -0.22% 8 11 0.71% -0.43%
 (4) APRIL -1.11% 5 14 0.67% -0.94%
 (5) MAY -0.18% 9 10 0.74% -0.48%
 (6) JUNE -0.17% 7 12 0.75% -0.40%
 (7) JULY 0.04% 10 9 0.69% -0.18%
 (8) AUGUST 0.08% 8 11 0.71% -0.09%
 (9) SEPTEMBER -0.31% 9 10 0.71% -0.13%
(10) OCTOBER 0.73% 11 7 0.83% 0.05%
(11) NOVEMBER -0.03% 8 10 0.79% 0.17%
(12) DECEMBER 0.18% 10 8 0.70% 0.10%

Source: CurrenciesFx.com (G.P.)

USDCAD TRADING

USDCAD trading conditions.

USDCAD TRADING ROBOFOREX LQDFX IC MARKETS
MINIMUM TRADING SPREAD 0.1 pip 1.1 pip 0.1 pip
TRADING COMMISSIONS $4.0 / ROUNDED LOT NO $7.0 / ROUNDED LOT
PLATFORMS MT4 / MT5 / cTrader / R Stocks Trader MT4 MT4 / MT5 / cTrader
AUTOMATED TRADING YES YES YES | FIX/API
PAMM ACCOUNTS YES YES YES
TRADING LEVERAGE 30:1 (EU) to 500:1 30:1 (EU) to 500:1 30:1
ORDER EXECUTION MODEL ECN STP ECN/STP
MINIMUM DEPOSIT & FUNDING OPTIONS
  • $10 for Cent Accounts & $5,000 for Prime Accounts
  • Wire, Cards, Neteller, Skrill, WebMoney, PerfectMoney
  • $20
  • Wire, Cards, Neteller, Skrill, FasaPay, UnionPay, UPaid
  • $200 FOR MT4/MT5
  • $1,000 for cTrader
  • Wire, Cards, Neteller, Skrill, WebMoney
REGULATION
  • IFSC
  • NO
  • ASIC (Australia)
PROMOTIONS
  • FREE VPS
  • TRADING CONTESTS
  • WELCOME BONUSES
  • 100% Cash Bonus (excluding PAMM)
  • Up to 20,000 USD
  • FREE VPS
WEB PAGE » ROBOFOREX » LQDFX » IC MARKETS

 

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 USDCAD

Researched and Edited by G. P. for CurrenciesFx.com (c)