The "Loonie", or Canadian dollar, is classed as a Commodity Currency due to the oil export from Canada. As this is mainly traded with the US, it makes it a powerful currency pairing, and it’s actually classed as one of the Major currency pairs. Following oil movement closely is a good idea if you want to ace trading with the USD/CAD pair.
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HIGH RISK WARNING:
Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.