AUD/CAD is a so-called commodity currency pair is heavily reliant on commodity prices around the world. While Australia is the world's biggest exporter of iron ore, coal and aluminium oxide and one of the biggest exporters of petroleum gas and gold, Canada depends on its exports of crude oil, gold, sawn wood and raw aluminium. Any major price fluctuations of those commodities may result in the pair's rise or decline, depending on which economy suffers most.
factors affecting the AUD/CAD rate include general economic indicators, such as unemployment rates, inflation data and GDP, and the central bank decisions regarding the interest rates in both countries.
factors affecting the AUD/CAD rate include general economic indicators, such as unemployment rates, inflation data and GDP, and the central bank decisions regarding the interest rates in both countries.