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.
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Best Time to Trade: between 01:00 GMT and 09.00 GMT
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Best Months to go Long: OCTOBER
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Best Months to go Short: APRIL
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Correlations: CRUDE OIL ( a positive correlation of 0.75-0.80)
■ USDCAD STATISTICS
Important statistics regarding USDCAD.
Table: USDCAD statistics
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USDCAD AVERAGE MONTHLY STATISTICS |
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(JANUARY 2000 - SEPTEMBER 2018) |
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MONTH |
MONTHLY RETURNS |
BULLS TIMES (↑) |
BEARS TIMES (↓) |
VOLATILITY |
MOMENTUM (ΔMP) |
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(1) JANUARY |
0.50% |
11 |
8 |
0.77% |
-0.34% |
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(2) FEBRUARY |
0.19% |
8 |
10 |
0.71% |
-0.37% |
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(3) MARCH |
-0.22% |
8 |
11 |
0.71% |
-0.43% |
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(4) APRIL |
-1.11% |
5 |
14 |
0.67% |
-0.94% |
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(5) MAY |
-0.18% |
9 |
10 |
0.74% |
-0.48% |
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(6) JUNE |
-0.17% |
7 |
12 |
0.75% |
-0.40% |
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(7) JULY |
0.04% |
10 |
9 |
0.69% |
-0.18% |
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(8) AUGUST |
0.08% |
8 |
11 |
0.71% |
-0.09% |
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(9) SEPTEMBER |
-0.31% |
9 |
10 |
0.71% |
-0.13% |
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(10) OCTOBER |
0.73% |
11 |
7 |
0.83% |
0.05% |
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(11) NOVEMBER |
-0.03% |
8 |
10 |
0.79% |
0.17% |
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(12) DECEMBER |
0.18% |
10 |
8 |
0.70% |
0.10% |
Source: CurrenciesFx.com (G.P.)
■ USDCAD TRADING
USDCAD trading conditions.
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USDCAD TRADING |
ROBOFOREX |
LQDFX |
IC TRADING |
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MINIMUM TRADING SPREAD |
1.3 pip |
1.1 pip |
0.1 pip |
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TRADING COMMISSIONS |
NO |
NO |
$7.0 / ROUNDED LOT |
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PLATFORMS |
MT4 / MT5 / cTrader / R Stocks Trader |
MT4 |
MT4 / MT5 / cTrader |
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AUTOMATED TRADING |
YES |
YES |
YES | FIX/API |
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PAMM ACCOUNTS |
YES |
YES |
NO |
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TRADING LEVERAGE |
30:1 (EU) to 500:1 |
30:1 (EU) to 500:1 |
30:1 (EU) to 500:1 |
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ORDER EXECUTION MODEL |
ECN |
STP |
CFDs |
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MINIMUM DEPOSIT & FUNDING OPTIONS |
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REGULATION |
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PROMOTIONS |
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• WEB PAGE • |
» LQDFX |
» IC TRADING |
■ The US Dollar against the Canadian Dollar (USDCAD)
Researched and Edited by G. P. for CurrenciesFx.com (c)
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