Thinking of trading GBP/CAD?
- 1. Due to the GBP being a reserve currency and a much bigger economy than the CAD, traders might find trading this pair somewhat advantageous. Because of the CAD being less widely traded, it might find itself less vulnerable to speculation and less likely to swing in political sentiment. 2. By simply following economic calendars you can find an important amount of information regarding events that will influence the price of the CAD. And for the fact that the two used to be correlated in the past due to the connection of the two countries, it would be quite a simple pair to trade. Moreover the pair is considered a heavy trade.
Trading CFDs involves significant risk of loss
How would you like to trade GBP/CAD?
- Tight spreads & reliable execution
- 70+ pre-installed indicators
- Custom indicators
- 26 time frames
- Live Sentiment data
- Chart trading
- Advanced Take Profit & Stop Loss
- Depth of Market
Trading CFDs involves significant risk of loss
- Vast selection of strategies to copy
- Efficient risk management
- Can start and stop copying at your will
- Flexible allocation of funds
- Detailed performance reports
- Full transparency & access to historical data
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Trading CFDs involves significant risk of loss
For beginners:
- Great choice of available cBots for various trading strategies and risk tolerance levels
- Simple Plug and Play functionality
For advanced traders:
- Ability to create your own cBot or custom indicator
Trading CFDs involves significant risk of loss
Trade GBP/CAD CFDs. Reduce your risk exposure by adding multiple asset classes to your portfolio. Choose among Forex, Shares, Indices, Energies, Precious Metals, and ETFs.
1. For the CAD, you should monitor the OPEC meetings decisions, US rigs weekly data and number of inventories. An increase in oil price helps the Canadian dollar to get strength. It is also worth mentioning that Canada has only one purchasing managers Index, the Ivey PMI, that is considered to be a direct reflection of the country's economic health. 2. Another factor traders need to be mindful of is the political turmoil in the UK which can influence heavily on the GBP price, pushing the pair either direction depending on market sentiment and political events. It is important for traders to not lose sight of any news regarding the Brexit.
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