USD/CAD: Live Rate, Pip Value and the Oil Link
The pair where both economies share a time zone and a border. That makes its session pattern unusual - almost everything happens in New York hours - and ties it to crude oil more tightly than any other major.
USD/CAD is the US dollar priced in Canadian dollars, with a pip of 0.0001 worth 10 Canadian dollars per standard lot, converted to roughly $7 depending on the rate. Crude oil is the distinctive driver: a stronger oil price tends to support the Canadian dollar and push the pair down. Both legs trade in North American hours.
USD/CAD right now
One pip = 0.0001 of price. A standard lot is 100,000 dollars, so pip value = pip size × contract size × lots, converted from CAD at the live rate. Figures assume a USD account; confirm the contract size with your broker.
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Open USDCAD on the live desk (H1) → See what the desk does →The oil relationship
Canada is a major oil exporter, so higher crude prices tend to strengthen the Canadian dollar, which pushes USD/CAD down. The relationship is a tendency, not a rule - it weakens when the Fed and the Bank of Canada diverge sharply - but it is strong enough that many traders watch WTI alongside the pair.
An unusual session pattern
Both countries share the North American day, so USD/CAD is quiet in Asia, wakes with London and does most of its work in New York. US and Canadian data frequently land in the same 30-minute window, which produces sharp two-sided moves.
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Play free, no signup →What else moves it
- Bank of Canada versus Federal Reserve rate expectations.
- Canadian jobs and CPI, released on their own schedule and often overlooked by traders focused on US data.
- Broad dollar strength, since the USD is the base currency here - a dollar rally lifts this pair rather than pressing it down.
The pip-value detail
The quote currency is CAD, so a pip is worth 10 Canadian dollars per standard lot and needs converting to your account currency. The tool above does that from the live rate; the pip value calculator covers the general case.
How far USD/CAD actually moves
Measured on the OANDA feed our charting desk runs on, 2026-01-11 to 2026-09-17 (180 completed daily bars). Recalculated every week.
| Average daily range | 60.0 pips |
|---|---|
| Median day | 53.9 pips |
| Widest day in the window | 180.4 pips |
| Quietest day | 22.5 pips |
| Average as % of price | 0.433% |
| Widest weekday | Friday (63.6 pips) |
| Busiest hour | 14:00 UTC, about 19.2 pips in that hour (quietest 04:00, 5.5) |
The median is the middle day and the average is pulled up by a handful of violent ones, so size a stop against the median and expect the average to flatter you. Full table for every instrument, with the method, on average daily range by pair.
Frequently asked questions
What is a pip worth in USD/CAD?
10 Canadian dollars per standard lot, which converts to roughly $7 depending on the current rate.
Does oil really move USD/CAD?
Higher crude tends to support the Canadian dollar and push the pair lower. It is a tendency rather than a rule, and it weakens when the two central banks diverge.
When is USD/CAD most active?
New York hours, since both economies share the North American session. Asia is usually quiet.
Why does a stronger US dollar push USD/CAD up?
The dollar is the base currency in this pair, so dollar strength raises the quoted rate.
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