used in energy production and manufacturing. You will find, on your forex platform, a trading pair like OIL/USD or sometimes CLD/USD. Any profit or loss will be reflected in the margin and thus in the free balance.
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Learn about oil s correlation with USD/CAD and how it affects the forex market.
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And to make the correlation clearer, we can. When oil goes down, USD/CAD goes. Also, take note that Canadas economy is dependent on exports, with about 85 of its exports going to its big brother down south, the.S. You can go long or short on this pair, just as you would other pairs. What this means, from a moon bitcoin bot traders point of view, is that when the price of oil is high and has remained high for some time, oil producers take steps to reduce the price. Typically to demonstrate its worth, it trades higher at a dollar or two to Brent. Oil trading hours are limited to between 02:00 and 21:00 London time on some platforms, as these platforms offer access to specific buyer/seller contracts and not to CFDs. Because of this, USD/CAD can be greatly affected by how.S. The trader also has to be aware of the destabilising effect that shale oil production in the US has had on the global oil price. Trading crude oil on the forex platform may be somewhat different from trading in other commodities.
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