CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and can afford the risks.Trading CFDs is high risk and is not suitable for everyone. Refer to our PDS and Target Market Determination. AFSL 513393
The USD/CAD rate tracks the price of the US dollar, the base currency, against the Canadian dollar, the counter currency. The pairing is informally known as the 'Loonie' because of the loon bird featured on the Canadian dollar coin. Monetary policy announcements of both the US Federal Reserve and the Bank of Canada will have an influence on this currency pair as well as the respective country's interest rates.