CAD in forex stands for the Canadian Dollar, which is the currency used in Canada and is commonly traded against other major currencies in the foreign exchange market.

What is ‘CAD’?

CAD stands for the Canadian Dollar, which is the currency of Canada. In the context of forex (foreign exchange), CAD refers to the trading and exchange of Canadian Dollars against other currencies. The value of CAD is determined by various factors such as economic indicators, interest rates, political stability, and market sentiment.

Traders and investors can buy or sell CAD in the forex market to speculate on its value or hedge against currency risks. CAD is one of the major currencies traded in the forex market, and its performance can have a significant impact on global forex trends.

Example of ‘CAD’

The USD/CAD currency pair represents the value of the US Dollar in Canadian Dollars. A trader who believes that the Canadian Dollar will appreciate against the US Dollar can buy the CAD/USD currency pair.

Conversely, a trader who thinks that the US Dollar will strengthen can sell the CAD/USD currency pair. CAD is affected by various economic indicators such as oil prices, inflation, and GDP.

Find out where you can trade the CAD

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