AUD/CAD Forex Trading
AUD/CAD is a forex currency pair that includes two currencies that are highly sensitive to market sentiment. Interested? Start trading AUD/CAD with FXOpen today!
AUD/CAD Live Charts
Use our AUD/CAD live chart to get the most up-to-date insight into the recent performance of this pair and other currency pairs used in forex trading. It can help you make informed decisions at home or on the go – no matter if you use the TickTrader desktop platform, web terminal, or mobile app. Our real-time chart includes the very latest price, historical data, and technical analysis tools to help guide your next trade.
What Is AUD/CAD Trading?
AUD/CAD trading refers to the buying and selling of the AUD/CAD currency pair in the foreign
exchange market. In this trading, investors and traders speculate on the exchange rate fluctuations
between the Australian dollar (AUD or aussie) and the Canadian dollar (CAD or loonie).
The AUD/CAD pair represents the value of one Australian dollar in terms of Canadian dollars. For
example, if the current rate is 0.8700, it means 1 Australian dollar is equivalent to 0.8700
Canadian dollars.
The AUD/CAD FX pair changes direction frequently. FXOpen offers immediate trade execution for
traders who seek to catch the best market conditions.
AUD/CAD Historical Performance
The AUD/CAD pair is highly volatile and lacks precise long-term trends. This makes it highly
attractive for traders who look for significant price swings.
The Australian dollar is often influenced by commodity prices, and this was particularly true
during the commodities boom of the early 2000s. The global financial crisis in 2008 had a
notable impact on the aussie and the loonie, when the loonie strengthened against the aussie.
However, the trend reversed in 2009, and the pair started its long-term uptrend.
The outbreak of the COVID-19 pandemic in early 2020 led to heightened market volatility and
uncertainty. The central banks of both countries implemented various measures to stabilise their
economies, influencing the exchange rate of the pair.
Major Factors That Affect the AUD/CAD Pair
Both Australia and Canada are major commodity exporters. Fluctuations in commodity prices,
particularly in those like iron ore, coal, oil, and natural gas, can significantly impact the
currencies of both countries.
Key economic indicators such as GDP growth, employment figures, inflation rates, and trade
balances from Australia and Canada can impact market sentiment and influence the AUD/CAD pair.
Additionally, interest rate decisions by the Reserve Bank of Australia (RBA) and the Bank of
Canada (BoC) affect the attractiveness of each currency to investors. Higher interest rates in
one country relative to the other may attract foreign investment and strengthen the respective
currency.
Both Australia and Canada are export-oriented economies. Therefore, changes in global economic
conditions and demand can impact their trade balances and economic performances, thereby
affecting the AUD/CAD rate.
The Australian dollar and the Canadian dollar are considered commodity-linked and risk-sensitive
currencies. Changes in risk appetite and market sentiment can influence their value.
Although it’s not a common case for this pair, geopolitical tensions, trade disputes, and
political events can create uncertainty in the financial markets and impact value.
Are you interested in this pair? You can start trading it with FXOpen right away!