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.