AUD/CAD price chart, background, and sentiment |
Widgets supplied in partnership with Acuity. Pricing and sentiment does not represent ADSS data or market view.
AUD/CAD is a minor currency pair that is commonly traded in the forex market. The AUD/CAD price represents the exchange rate between the Australian dollar (AUD) and the Canadian dollar (CAD), and the currency pair serves as a key reference point for gauging the relative strength of the economies of Australia and Canada. Traders and investors analyse the AUD/CAD exchange rate to make informed decisions in the forex market, which is characterised by its moderate liquidity and volatility.
Widgets supplied in partnership with Acuity. Pricing and sentiment does not represent ADSS data or market view.
Both the Australian dollar and the Canadian dollar are commodity currencies, as the economies of both countries are heavily influenced by their commodity exports, such as energy products (coal, oil, and natural gas), agricultural goods, and metals. During times of stability, when risk appetite increases, AUD may potentially appreciate against CAD as investors seek high-yielding assets. Conversely, during periods of risk aversion, CAD may potentially appreciate against AUD as investors seek safe haven assets.
The AUD/CAD exchange rate is influenced by factors including interest rate differentials, economic data releases, geopolitical events, and central bank policies. As both countries are major exporters of various goods and resources, AUD/CAD is also heavily influenced by the supply of and demand for commodities.
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