The Canadian dollar is available to trade 24 hours a day, five days a week – from 10pm (GMT) on Sunday evening to 10pm (GMT) on Friday night.
The best time of day to trade CAD will depend on which pairing you decide to focus on. As a rule, each pair will see the most movement when its sessions overlap, but this is less of a concern for the most traded CAD pair, as USD/CAD shares most of the same timezones.
You can trade the Canadian dollar with us via these easy steps:
The history of the Canadian dollar began shortly after the 1867 Canadian Confederation. Prior to the currency’s introduction, early periods of bartering among Inuit and First Nations inhabitants gave way to adoption of the British Pound and currencies linked to the US dollar when settlement patterns changed. The Canadian dollar was originally partially backed by…
USD/CAD USD/CAD is the forex ticker for the exchange rate between the US dollar and the Canadian dollar. It tells traders how many Canadian dollars are needed to buy one US dollar in real time. The pair is consistently in the top ten most-traded currency pairs in the world, and therefore traders can expect good liquidity and…
The economy of Canada ranks as the ninth-largest by nominal GDP in the world, with a GDP of $1.5 trillion CAD as of 2020. The Bank of Canada is the country’s central bank, which is responsible for maintaining financial stability and overseeing monetary policy. The history of Canada’s economy charts a journey from an indigenous…
The price of the Canadian dollar is impacted by a range of fundamental drivers that affect the supply of, and demand for, the currency. These include: Monetary policy When central banks seek to curb excessive inflation, they will often consider raising interest rates to encourage saving over spending in the economy and dampen price rises…
The Canadian Dollar, or ‘loonie’, is the national currency of Canada, known by the abbreviation CAD. It is consistently one of the eight most traded currency pairs in the world. Read on for more on the economy of Canada, the history of its currency, and the considerations to make when trading it.
