CAD/SGD

CAD/SGD CFD is a product offered by OANDA, and is based on a currency pair that represents the value of the Canadian Dollar against the Singapore 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 Singapore Dollar, issued in Singapore, is managed by the Monetary Authority of Singapore (MAS) through an exchange rate policy, where it is allowed to fluctuate within a policy band against a trade-weighted basket of currencies.

Singapore's economy is heavily reliant on trade, finance, and manufacturing. Therefore, the CAD/SGD currency pairing will be influenced by the differences in the Canadian economy, which is heavily influenced by commodities, and the Singaporean trade and finance driven economy.