Many of us don’t know what a USD CAD live chart is. So live chat is ba graphical or statistical representation of live exchange rate in forgen trading market ,USD CAD live chat shows the current exchange rate in forex trading market. With the help of this chat we can identify the current market structure and trade more actively. For example : today’s exchange rate is 1 USD qualls to approx 1.28 CAD and 1 CAD qualls to 0.78 USD.
WHAT IS USD?
USD is the official currency of the US.The full form of USD is the united state dollar.
Where, ‘U’ stand for united ,’S’ stand for state,’D’ stand for dollar.
USD is the currency code of US. It is the first traded currency in the forex market.
WHAT IS CAD?
CAD is the official currency of canada. “Loonie’’, is a nickname of CAD and it is the abbreviation or currency symbol which is used to denote the canadian dollar.
as it is the official currency of canada it is considered to be a benchmark currency, it means many central banks across the globe keep canadian dollars as a reserve currency.
1 canadian dollar is made up of 100 cents and is often present as USD.
USD CAD
It is the abbreviation for the US dollar and canadian dollar currency pair. The USD CAD pair shows how much canadian dollars are required to purchase one US dollar.
For example if the USD CAD pair is trading at1.50 it means that 1.5 canadian dollar are required to purchase 1 US dollar.
Thse currency pair is also known as trading “loonie.’’ These currency pairs are actively traded in the forex market.
Watch : USD CAD Live Chart
WHAT IS THE BEST TIME TO TRADE USD CAD?
Forex trading markets are open to trade 24 hours a day and 5 day in a week.
But the best time to trade USD CAD pairs is when the greatest liquidity and volatility is determine during the north american trading session.
because at that the USD and CAD are most active .however the USD CAD pair trading is more volatile on daily friday.
so at that time person can trade easily can can get more profitability.
Watch : USDCAD Live Chart
WHAT FACTORS AFFECT THE USDCAD ?
The USD CAD is affected by factors that affect the value of USD and canadian dollars in relation to each other.
Because of these interest rate differentiate between the federal reserve and the bank of canada.
for example : If the value of the USD CAD cross will increase because it will take more canadian dollar to purchase the stronger US dollar.
also the value of canadian dollar is high because of correlation with the price of commodities . For example oil.
Watch : USD/CAD Live Chart
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