How does oil price affect USD/CAD?
Canada is a major oil exporter, so rising crude oil prices typically strengthen the Canadian dollar (CAD), pushing USD/CAD lower. Conversely, falling oil prices tend to weaken CAD and push USD/CAD higher. This correlation makes USD/CAD popular among commodity traders.
When is USD/CAD most active?
USD/CAD is most active during North American hours. the New York session (1pm–10pm GMT). Canadian economic releases (GDP, employment, BoC decisions) and US data (NFP, CPI) drive the biggest moves.
What is the best broker for USD/CAD trading?
Exness and Axi offer 0.0 pip spreads on USD/CAD via raw accounts. With North American trading hours being the most active window, tight spreads are crucial for scalping USD/CAD.