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TagsWhat are the factors that influence the CAD/USD spot rate in the context of digital currencies?
Samarth GhongadeDec 17, 2021 · 3 years ago1 answersIn the context of digital currencies, what are the various factors that can influence the spot rate between the Canadian Dollar (CAD) and the United States Dollar (USD)?
1 answers
- In the context of digital currencies, the CAD/USD spot rate can be influenced by various factors. One factor to consider is the trading volume and liquidity of CAD and USD in the digital currency market. Higher trading volume and liquidity can lead to a more stable and accurate spot rate. Another factor is the overall market sentiment towards digital currencies. If there is positive market sentiment and increased adoption of digital currencies, it may lead to an increase in the CAD/USD spot rate. Additionally, regulatory developments, technological advancements, and market competition can also impact the spot rate. It's important to stay updated with the latest news and market trends to understand the factors influencing the CAD/USD spot rate.Dec 17, 2021 · 3 years ago
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