USDCAD STATISTICS
The Canadian Dollar is a commodity currency, as Canada is a major exporter of oil, gas, ferrous, and non-ferrous metals. The Canadian Dollar is positively correlated to the price of Crude Oil. Canada exports daily about 2 million oil barrels to the United States, while 85% of all Canada’s exports are going in the US.
◘ USDCAD SEASONAL PATTERNS:
According to our data {2000-2018} these are the best months to go long/short on USDCAD:
BEST MONTHS FOR LONG TRADES (↑)
- OCTOBER, average returns +0.73%, times (11-7), and +0.05% momentum
RECENT 5 PERIODS: 4 bullish out of 5
RELIABILITY: a reliable seasonal pattern, after 2011 (☆☆☆)
BEST MONTHS FOR SHORT TRADES (↓)
- APRIL, average negative returns -1.11%, times (5-14), and -0.94% momentum
RECENT 5 PERIODS: 4 bearish out of 5
RELIABILITY: a considerably reliable seasonal pattern (☆☆☆☆)
The full statistics of the pair are presented in the book (licensed by G. Protonotarios): ► The Hidden Patterns Behind 15 Forex Pairs: Revealing Momentum and Seasonal Patterns Based on 18.5 Years of Daily Exchange Rates
◘ CORRELATIONS
- The correlation between the CADUSD and the oil price is very high (read more here)
- CADUSD and Oil Price 0.75-0.80 positive correlation
◘ USD/CAD Central Banks
» US Federal Reserve | » Canadian Central Bank |
◘ COMPARE USDCAD BROKERS & TRADING TERMS
In the following table, you may find a basic comparison of USDCAD regulated Forex Brokers.
Table: Compare USDCAD Forex Trading Cost
FOREX BROKER |
|
USDCAD SPREAD |
0.01 pip |
COMMISSIONS |
$7 / full traded lot |
LEVERAGE |
30:1 |
REGULATION |
FSC (Mauritius) |
INFORMATION |
CFD PROVIDER US: NO Min Deposit: 200 USD Bonus: Free VPS |
■ USD/CAD Statistics
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