USDCAD ANALYSIS
The United States Dollar against the Canadian Dollar –Nickname Loonie
|
CENTRAL BANK |
FED |
BoC |
|
FOREIGN CURRENCY RESERVES |
41.901 Million USD |
62.756 Million USD |
◙ USDCAD Preface
USDCAD is one of the 7 major Forex currencies and it is considered a very liquid pair. Historically the exchange rate of the Canadian Dollar (CAD) is highly correlated to the Oil price. Canada is exporting daily about 2 million oil barrels to the United States, while 85% of all Canada’s exports are going in the US.
◙ USDCAD Monthly Statistics
These are the monthly average returns of USDCAD based on 15 years of daily data.
|
CALENDAR MONTH |
AVERAGE MONTHLY RETURNS |
TIMES (↑) |
TIMES (↓) |
AVERAGE DAILY VOLATILITY |
|
JANUARY |
0.31% |
9 |
6 |
0.766% |
|
FEBRUARY |
0.17% |
6 |
8 |
0.688% |
|
MARCH |
-0.18% |
6 |
9 |
0.702% |
|
APRIL |
-1.17% |
4 |
11 |
0.661% |
|
MAY |
-0.73% |
6 |
9 |
0.755% |
|
JUNE |
0.02% |
5 |
10 |
0.763% |
|
JULY |
-0.05% |
8 |
7 |
0.702% |
|
AUGUST |
0.09% |
6 |
9 |
0.719% |
|
SEPTEMBER |
-0.36% |
6 |
9 |
0.726% |
|
OCTOBER |
0.67% |
9 |
6 |
0.866% |
|
NOVEMBER |
-0.05% |
7 |
8 |
0.838% |
|
DECEMBER |
-0.02% |
8 |
7 |
0.735% |
◙ Best Months to Trade the USDCAD
(↑)-LONG TRADES
According to data during 2000-2014, the best months to go long on USDCAD are:
→ OCTOBER, with positive average returns of +0.67%
→ JANUARY, with positive average returns +0.31%
→ FEBRUARY, with positive average returns +0.17%
(↓)-SHORT TRADES
According to 2000-2014 data the best months to go short on USDCAD are:
→ APRIL, with negative average returns -1.17%
→ MAY, with negative average returns -0.73%
→ SEPTEMBER, with negative average returns -0.36%
◙ USDCAD Monthly Statistics Chart:
This is the USDCAD Monthly Performance Chart.
Chart: USDCAD Average Returns (%) per Calendar Month
◙ Most Volatile Days of the Week to Trade the USDCAD
These are the most volatile days to trade USDCAD based on the average pip range of each day of the week.
|
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
|
95 pips |
110 pips |
105 pips |
120 pips |
125 pips |
◙ Best Intraday Times to Trade the USDCAD:
In general, the best time to trade USDCAD is between 13.00 GMT and 15.00 GMT.
Forex Brokers and USDCAD Trading
These are some USDCAD Forex Brokers.
|
FOREX BROKER |
USDCAD SPREADS |
PLATFORMS |
ACCOUNT |
INFORMATION |
|
» LQDFX REGULATED: (N/A) US TRADERS: NO |
1.6 pip typical without trading commissions (Gold Account Type) |
□ MetaTrader-4 SCALPING: YES FREE VPS: NO PAMM ACCOUNT: NO |
$20 Minimum Deposit Amount 500:1 Max Leverage |
WEB-SITE: REVIEW: |
PAIRS: » GBPUSD | » USDJPY | » EURUSD | » EURGBP | » EURJPY | » AUDUSD | » NZDUSD
◙ USDCAD ANALYSIS
CarryTrader.com
