CAD/HKD

CAD/HKD CFD is a product offered by OANDA, and is based on a currency pair that represents the value of the Canadian Dollar against the Hong Kong Dollar.  

The Canadian Dollar, issued in Canada, is heavily influenced by commodity prices, particularly oil, due to Canada's significant natural resource exports. The Canadian Dollar may experience fluctuations in response to these commodity prices and other economic indicators related to Canada.  

The Hong Kong Dollar, issued in Hong Kong, is pegged to the US Dollar.

This peg means its value is closely tied to the US Dollar, and therefore, it is heavily influenced by US monetary policy and economic conditions. Therefore, the CAD/HKD currency pairing will be influenced by the differences in the Canadian economy, which is heavily influenced by commodities, and the US economy.