What is USD/CAD?

USD/CAD, also known as the “loonie” for the bird displayed on Canadian currency, is the forex pair representing how many Canadian dollars are equivalent to one US dollar, or “buck.”

What is a USD/CAD currency pair?

Trading the USD/CAD currency pair is also known as trading the " loonie ," which is the name for the Canadian one dollar coin, which depicts its namesake bird. The USD/CAD is also one of the most liquid and actively traded pairs in the forex market. USD/CAD is the currency pair for the U.S. and Canadian Dollars.

Is USD/CAD a good currency to trade?

USD/CAD can be a very good pair to trade when you have a monetary policy divergence between the two central banks backing the currencies, the Federal Reserve for the USD and the Bank of Canada (BoC) for the CAD.

What session is best to trade USD/CAD?

What session is best to trade the USD/CAD? The best times to trade USD/CAD is during the North American Session, also called the New York Session. During this session not only Canadian and US traders are active, but it’s also when we see major economic releases for both countries.