In forex trading, the value date refers to the date on which a transaction is settled and a transfer of funds takes place between the two parties involved in the trade. It is also sometimes referred to as the “delivery date” or “settlement date”. The value date is usually two business days after the trade date, except for USD/CAD currency pairs, which have a one-business-day settlement period. The value date is important because it determines when a trader will receive the currency they have purchased or sold and when they will be debited or credited for the transaction.