GBPCAD - British Pound / Canadian Dollar
Trading Conditions
* Only if Margin Level > 100%
The average spreads provided for each platform are updated on a daily basis to reflect the average for the previous day. Though FxPro attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. FxPro has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions of Business'.
The GBP/CAD currency combination is heavily impacted by the correlation of two important global economies: the United Kingdom and Canada. The pair is nevertheless an ideal tool for diversification for those who are familiar with the GBP/USD pair, yet keen to move beyond the four majors.
The Canadian dollar is the so-called commodity currency since the Canadian economy has an export orientation. The country's economy depends on the export of oil, timber, coal, ferrous and non-ferrous metals. If prices for this product fall, then the value of the dollar decreases, and consequently, the GBP/CAD rate rises. Accordingly, on the contrary: prices are rising, the quote is falling. The most important economic and political news influence in this way: if this data is good for Britain, then the pair quotes grow; if this data improvement occurs in Canada, then the GBP/CAD quotes fall.
If you are interested in trading the GBP/CAD, contact FxPro today to open trading account in several minutes.