The exchange rate of the Australian dollar to the Canadian dollar on Forex
AUDCAD is a currency pair consisting of the Australian dollar and the Canadian dollar. The economies of Australia and Canada depend on the export of minerals and raw materials, due to which AUDCAD is considered a commodity currency pair. At the same time, the Canadian economy depends more on the value of Brent crude oil and sawnwood, and the state of the Australian economy is based on world prices for premium wheat. The main trading partners of the countries-issuers of the pair currencies are the United States and Great Britain. When carrying out fundamental analysis of the pair, in addition to the main macroeconomic indicators of Australia and Canada (GDP and inflation level, interest rates and labor market data), one should take into account similar indicators of the United States. Despite the actual absence of the US national currency in AUDCAD pair, the US dollar is involved in the formation of its rate, which is manifested as a correlation with the charts of AUDUSD and USDCAD. When turning to technical analysis tools, traders can use all available methods: graphical patterns, classical and custom indicators, candlestick patterns and figures. The highest trading activity of AUDCAD is observed during the Pacific session.
The current AUD/CAD quotations chart shows the current cross rate of the Australian dollar and the Canadian dollar.
Risk warning: Trading in FX and CFDs entails high risk of losing capital.