WTI Crude vs Canadian Dollar - WTI CAD Trading
Market Exchange Rate
The personal composite instrument «&OIL/CAD» reflects the price dynamics of a barrel of crude oil Brent against the Canadian dollar. The base part of the instrument is composed of 1 barrel of American crude oil of West Texas Intermediate brand, and the quoted part – 1 Canadian dollar. Oil is represented by a continuous CFD on WTI oil futures. The asset percentage content of the instrument is estimated on the basis of asset prices on the instrument creation date.
The trading instrument &OIL/CAD is used for the analysis and trade of oil quoted against one of the main commodity currencies – the Canadian dollar. Oil is very important for the economies of Asian countries.
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PCI Components and their volume
PCI main trading conditions
PCI active trading hours
How can PCI be applied in trading?
|&OIL/CAD||№||Asset||Volume / 1 PCI||Percentage||Volume (USD) / 1 PCI||Unit of measurеment|
- The volume to calculate Swap and 1 pip value
- The size of 1 pip
- Margin in USD for the volume and leverage of 1:100
- 481.70 USD
|Swap (long/short) in pips on Vol||-11.844 / -14.207||-11.844 / -14.207||-11.844 / -14.207|
|The value of 1 pip in USD for the Vol||0||0||0|
|Week day||Trading hours (CET)||Local trading hours|
|Monday||01:00 — 23:00, 00:00 — 24:00||01:00 — 23:00, 00:00 — 24:00|
|Tuesday||00:00 — 23:00, 00:00 — 24:00||00:00 — 23:00, 00:00 — 24:00|
|Wednesday||00:00 — 23:00, 00:00 — 24:00||00:00 — 23:00, 00:00 — 24:00|
|Thursday||00:00 — 23:00, 00:00 — 24:00||00:00 — 23:00, 00:00 — 24:00|
|Friday||00:00 — 22:00||00:00 — 22:00|
The personal composite trading instrument &OIL/CAD is used for trade and dynamics analysis of WTI oil vs the Canadian dollar, as well as multi-year comparative analysis of oil quoted against various currencies. For example, by building a percentage chart in the NetTradeX terminal for three instruments &OIL/CAD, &WTI/JPY and OIL (Fig. 1), it is evident that in the last two years (2013-2014) Oil exhibited almost identical dynamics against all of the three currencies; whereas Oil vs USD recorded the biggest decline, the decline in Oil vs JPY was relatively smaller.
Traders, whose main assets and investments are denominated in Canadian dollars, will be comfortable trading this PCI.
To trade PCI instruments offered exclusively by IFC Markets, you need to open a free account and download the NetTradeX platform.