Major pair · “Loonie”
USD/CAD: volatility, trading hours and correlation
The US dollar against the Canadian dollar. USD/CAD has averaged 59 pips a day over the last 90 days, with recent volatility close to its one-year norm. It tends to move most between 13:00 and 16:00 UTC.
- Last close
- 1.41407 16 October 2026
- Avg daily range
- 59 pips 90 days · 0.42% of price
- 1-year change
- +0.62% USD stronger vs CAD
- 52-week range
- 1.34811 – 1.42995 Low to high
USD/CAD over the last 12 months
Daily closes
When USD/CAD moves most
Average high-to-low range for each hour of the day over the last year, in pips (UTC). The busiest three-hour window is highlighted. 21:00–23:00 UTC includes the daily rollover, when spreads widen and bid prices dip, so those hours are left out of it.
Want these hours in your own time zone? Open forex market hours. To compare USD/CAD with other pairs, read the most volatile hours in forex.
Average range by weekday
Pips, last 12 months. Friday is typically busiest and Tuesday quietest.
Calendar-year performance
% change in USD/CAD each year, latest year to date
USD/CAD seasonality
Average % change by calendar month across the last 9 years. February has been the strongest month on average and June the weakest. Seasonality is a tendency, not a forecast.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg change | -0.58% | +1.17% | +0.27% | +0.01% | -0.59% | -0.63% | -0.31% | +0.18% | +0.92% | +0.75% | -0.11% | -0.62% |
| Years up | 56% | 67% | 44% | 56% | 33% | 44% | 44% | 67% | 67% | 67% | 56% | 33% |
USD/CAD correlation
Correlation of daily returns with other pairs. +1 means they move together, −1 means they move in opposite directions. How to use correlation.
Biggest daily moves in the last year
The five widest high-to-low days for USD/CAD.
| Date | Range | Open to close | × normal day |
|---|---|---|---|
| 27 January 2026 | 180 pips | -0.96% | 3.0× |
| 5 December 2025 | 150 pips | -1.03% | 2.5× |
| 30 January 2026 | 144 pips | +0.93% | 2.4× |
| 17 June 2026 | 136 pips | +0.77% | 2.3× |
| 9 February 2026 | 121 pips | -0.83% | 2.0× |
USD/CAD pip value
Value of a one-pip move (0.0001) at the latest price.
| Account currency | Standard lot (1.00) | Mini lot (0.10) | Micro lot (0.01) |
|---|---|---|---|
 USD | 7.07 USD | 0.71 USD | 0.071 USD |
 EUR | 6.29 EUR | 0.63 EUR | 0.063 EUR |
 GBP | 5.31 GBP | 0.53 GBP | 0.053 GBP |
 CAD | 10.00 CAD | 1.00 CAD | 0.100 CAD |
About USD/CAD
USD/CAD shows how many Canadian dollars (CAD) it takes to buy one US dollar (USD). When the price rises, the US dollar is strengthening against the Canadian dollar. Traders often call it “Loonie”.
USD is issued by the Federal Reserve. It tends to respond to Federal Reserve rate expectations, US jobs and inflation data, and global risk appetite, since the dollar is the world’s main reserve and funding currency.
CAD is issued by the Bank of Canada. It tends to respond to Bank of Canada policy, crude oil prices and the health of the US economy, Canada’s largest trading partner.
With an average range of about 59 pips a day, a stop loss of 18–35 pips is roughly a third to two-thirds of a normal day for USD/CAD. Always size your position from the stop distance with the lot size calculator.
USD/CAD FAQ
What is the average daily range of USD/CAD?
Over the last 90 days USD/CAD moved an average of 59 pips from high to low each day, about 0.42% of its price. Over the past year the average was 60 pips, and over the last 20 trading days it was 63 pips.
What is the best time to trade USD/CAD?
In the past year USD/CAD was most active between 13:00 and 16:00 UTC, and the London session produced the largest average range (47 pips). The quietest hour was 04:00 UTC. Friday was its busiest weekday on average.
What is USD/CAD most correlated with?
Based on daily returns over the last year, USD/CAD moved most closely with USD/CHF (correlation 0.66) and most inversely with EUR/USD (-0.63).
How much is one pip worth on USD/CAD?
One pip on USD/CAD is 0.0001 of the price. For one standard lot (100,000 USD) that is 10 CAD, or about $7.07 at the latest price. A mini lot is a tenth of that and a micro lot a hundredth.
Statistics are calculated by ForexSignals.io from Dukascopy hourly bid prices up to the 16 October 2026 close. Trading days run from 17:00 to 17:00 New York time, the same daily candles most MT4 and MT5 brokers show. Hourly figures cover the last 12 months, seasonality the last 9 full years. Data may contain errors and is not a trading recommendation.
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