USD/CAD

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

The US Dollar is the world's primary reserve currency and the most widely traded currency globally. Its value is influenced by US economic performance, Federal Reserve monetary policy, and global economic sentiment.  

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 USD/CAD currency pairing will be influenced by the relative economic performance and monetary policies of the United States and Canada, and also heavily by the commodity markets, particularly oil.