6C futures explained: Canadian dollar futures vs USD/CAD
Most forex charts show USD/CAD. Canadian dollar futures show the reverse: what one Canadian dollar is worth in US dollars. Same story, flipped chart.
At a glance
| Item | 6C (Canadian Dollar futures) |
|---|---|
| What it is | A futures contract for 100,000 Canadian dollars, priced in US dollars per CAD |
| Tick size | 0.00005 (half a pip) |
| One tick is worth | $5.00 ($10 per full pip) |
| Busiest hours (ET) | About 8 am – 4 pm, the North American day |
| What moves it most | The Bank of Canada, oil prices, Canadian and US jobs data, trade news |
| Trading hours | Sunday to Friday, 6 pm – 5 pm ET, with a daily one-hour break |
Specs checked Oct 2026. Check cmegroup.com for current specs before you trade. A micro contract (10,000 CAD) also trades.
The flip: 6C vs USD/CAD
USD/CAD shows Canadian dollars per US dollar, like 1.38. 6C shows US dollars per Canadian dollar, like 0.7246. Same rate, turned over.
- USD/CAD up = loonie weaker = 6C down.
- USD/CAD down = loonie stronger = 6C up.
Buying 6C is a bet on a stronger Canadian dollar.
| 6C futures | Spot USD/CAD | |
|---|---|---|
| Where | CME exchange | Forex broker |
| Quote | US dollars per CAD | CAD per US dollar |
| Size | Fixed: 100,000 CAD | Flexible lots |
| Expiry | Quarterly (Mar, Jun, Sep, Dec) | None, with daily swaps |
What moves it
The Bank of Canada (BoC). It announces rate decisions 8 times a year at 9:45 am ET, with a press conference about 45 minutes later.
Oil. Canada is a major oil exporter, mostly to the US. Higher oil prices tend to support the loonie, lifting 6C. See crude oil futures.
Jobs data on the same morning. Canada's monthly jobs report usually comes out at 8:30 am ET, often on the same Friday as the US jobs report. Two big numbers at once can make that candle wild.
Canadian inflation. CPI at 8:30 am ET, monthly.
Trade with the US. Most Canadian exports go to the US. Tariff and trade-deal headlines can move the loonie fast.
The Fed. US data and the FOMC at 2:00 pm ET.
When it's busiest
Toronto and New York share a clock, so there's no time-zone math.
- 8:30 am ET: Canadian and US data.
- 9:45 am ET: BoC decision days.
- 8 am – 4 pm ET: most of the volume.
- Asian hours: quiet.
Its personality
- Oil-linked, not oil-locked. On many days the dollar and rate story matter more than oil.
- Calmer than the Aussie. It often moves less in a day than 6A.
- North American hours do the work. Overnight is usually slow.
- Physically delivered. Roll before expiry. See Contract rollover.
Reading it with our method
- Flip check. Write down whether you're betting the loonie gets stronger (buy 6C) or weaker (sell 6C).
- Daily chart on 6C itself. Mark the last places price turned around.
- Body-close rule. The 8:30 am candle on double-jobs Fridays can whip both ways. Only a body close counts.
- Stop first, size second. Example: a 30-pip stop is 60 ticks × $5 = $300 of risk per contract. If your plan says $100, the micro fits better. A math example, not a promise.
The futures tick value calculator does the math fast.
Common mistakes
- Forgetting the flip. Reading USD/CAD and trading 6C the same way is a common error.
- Using the old $10 tick. CME's 6C tick is half a pip, $5.
- Trading the joint jobs report blind. Many traders wait for the first candles to close.
- Treating oil as the only driver.
Questions
Why is 6C the opposite of USD/CAD?
6C quotes the Canadian dollar in US dollars. USD/CAD quotes the US dollar in Canadian dollars. Same rate, flipped.
How much is one tick on Canadian dollar futures?
$5.00. The tick is 0.00005 on 100,000 CAD, so a full pip is $10.
What time does the Bank of Canada announce rates?
At 9:45 am ET, 8 times a year. The press conference follows about 45 minutes later.
Does oil move the Canadian dollar?
Often. Canada exports a lot of oil, so higher oil prices tend to support the loonie. It's a tendency, not a rule.
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