0.0001 (fourth decimal place).
10 Canadian dollars per pip on a standard lot (roughly $7–8 US at typical rates, floating). Broker specification is authoritative.
Roughly Sunday 22:00 UTC to Friday 21:00 UTC (24/5), per your broker's calendar.
New York hours (12:00–21:00 UTC) — Canadian and US data land in the same window, which is when the pair does most of its moving.
USDCAD prices the US dollar against the Canadian dollar ('loonie'), and its personality comes from one fact: Canada is a major oil exporter. Rising crude tends to strengthen the CAD (pushing USDCAD down); falling crude does the opposite. Anyone trading this pair is, partly, trading oil.
Both economies report in North American hours, so unlike European pairs it sleeps through London mornings and wakes at 12:30 UTC when the data hits.
How USDCAD behaves
- Correlates inversely with WTI crude much of the time; big oil moves telegraph USDCAD moves.
- US and Canadian jobs reports are sometimes released simultaneously — those minutes are among the most violent of the month.
- Ranges tend to be moderate; it is less prone to GBP-style spikes but grinds directionally when oil trends.
Risk notes for USDCAD
- Trading USDCAD and oil positions together stacks the same exposure twice.
- Bank of Canada decisions move it as hard as Fed decisions — both calendars matter.
- Liquidity thins noticeably after New York closes; overnight stops sit in a thinner book.
Whatever the instrument, the sizing method is the same: place the stop where the trade idea is invalid, then size the position so that stop costs a fixed fraction of the account. Our position size calculator does that math, and the stop-loss and risk–reward guide explains why the order of operations matters.
USDCAD — frequently asked questions
Why does oil affect USDCAD?
Oil is one of Canada's largest exports, so crude prices flow into Canada's trade balance and currency demand. Higher oil generally means a stronger CAD, which pushes USDCAD lower — the correlation isn't perfect, but it is persistent.
When is USDCAD most active?
North American hours, especially 12:30–21:00 UTC. Canadian and US economic releases land in that window, and the overlap of both countries' markets provides the liquidity.
How much is a USDCAD pip worth?
10 Canadian dollars per standard lot; in US dollars roughly $7–8 at typical rates, floating with the rate itself.
Reference information, not financial advice. Contract sizes, pip values, hours, and spreads vary by broker — your broker's specification is authoritative, and RezSync Algo always reads these values live from the broker rather than assuming them. Trading involves substantial risk of loss; forward-test on a demo account before any live decision.
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