How can You trade the USD/CAD?
You could trade the United States dollar versus the Canadian dollar at your local bank for a safe trading environment. The downside is that this method tends to lack the flexibility many traders seek.
Futures and options enable traders to trade various assets without owning them or investing for their full prices. The leverage, on the other hand, could wipe out your account if your trade goes wrong.
The most effective and safe method is trading with an FSCA regulated brokerage like CMTrading, where you can seize countless trading opportunities every day and enjoy quick payouts.
What factors influence the USD/CAD?
The USD/CAD is affected by different factors such as interest rate decisions made by the Federal Reserve and the Bank of Canada, the US demand for Canadian exports and commodity prices.
What to consider when trading the USD/CAD?
Though both currencies are issued by mature and established democratic nations that maintain a congenial relationship, Canada is vulnerable to the financial and political upsets taking place in the US in what can only be described as unequal relationship.
Did you know?
The face featured on the $20 bill is none other than Andrew Jackson, the 7th US president who was highly against paper money.
According to him, silver and gold coins were the only acceptable forms of legal tender.