The United States Dollar against the Canadian Dollar –Nickname Loonie

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

» IC TRADING

REGULATED BY:

  • Mauritius (FSC) -license Number: GB21026834

US TRADERS: NO

USCCAD SPREADS:

0.0 pip on Raw Spread Account & $7 per lot commissions

 

PLATFORMS:

□ MetaTrader-4

□ MetaTrader-5

□ cTrader

SCALPING: YES

  • Free VPS

$200 Minimum Account for all trading platforms

FUNDING METHODS

  • WIRE
  • CARDS
  • PAYPAL
  • NETELLER

Wide Asset Index and Fast Order Execution

WEB-SITE:

► Visit IC Trading

» LQDFX

REGULATED: (N/A)

US TRADERS: NO

USCCAD SPREADS:

1.6 pip typical without trading commissions (Gold Account Type)

□ MetaTrader-4

SCALPING: YES

FREE VPS: NO

PAMM ACCOUNT: NO

$20 Minimum Deposit Amount

FUNDING METHODS

  • WIRE
  • CARDS
  • SKRILL
  • NETELLER
  • FASA PAY
  • UNION PAY

WEB-SITE:

► Visit LQDFX

REVIEW:

► Review LQDFX

 

PAIRS: » GBPUSD | » USDJPY | » EURUSD | » EURGBP | » EURJPY | » AUDUSD | » NZDUSD

 

USDCAD ANALYSIS

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