Convert AUD to CAD - Australian dollar to Canadian dollar Exchange Rate

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Convert

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Into

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AUD to CAD conversion rates

AUD

CAD

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CAD

AUD

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AUD to CAD charts

AUD/CAD Live Chart

AUD/CAD Historical Chart

Learn more about the future of AUD/CAD in the AUD/CAD forecast
See the current exchange rate of the AUD/CAD on the AUD/CAD Live rates page

What impacts the AUD/CAD exchange rate

In the forex market, the AUD/CAD symbol represents the currency pair trading the Australian dollar against the Canadian dollar, an interesting pair consisting of two of the most popular commodity currencies. The AUD is a currency whose value fluctuates with changes in prices of gold, iron ore and coal - key commodities exported by Australia that have a major impact on its economy as well as currency. Whenever the prices of these commodities increase, it strengthens the Australian economy as well as the AUD, and increases the exchange rate of AUD/CAD.On the other hand, the CAD's value is driven by the price of crude oil - the most important export from Canada. Whenever the price of crude oil falls, the Canadian dollar weakens, causing the AUD/CAD forex pair to trade bullish, and vice versa.The AUD/CAD is a good forex pair to trade during a risk-on sentiment when it exhibits considerable volatility and activity. This is because investors prefer to move towards currencies like the AUD and CAD when their risk appetite is on the higher side. The AUD/CAD also benefits from a risk-off sentiment as it triggers more buying in the safe haven gold, one of Australia's key exports, which in turn supports the AUD even though it is a risk currency.

AUD to CAD exchange rate - FAQ

What economic events influence the exchange rate of AUD/CAD?

The AUD/CAD currency pair experiences considerable volatility on the release of important economic data from Australia and Canada, including GDP, inflation, unemployment rate, trade balance, business confidence, retail sales and housing market data.

How do central bank decisions affect the AUD/CAD currency rate?

Both the AUD and the CAD see changes in their value on the release of monetary policy and interest rate decisions by the Reserve Bank of Australia (RBA) and the Bank of Canada (BOC) respectively. For instance, if the RBA tightens its monetary policy or hikes interest rates, the AUD makes gains, turning the AUD/CAD bullish, and vice versa.

How do Chinese economic events have an impact on the AUD?

China is an important trade partner of Australia, accounting for importing most of the commodities, especially iron ore and coal. As a result, economic data releases from China that affect this trade relationship tends to influence the value of the AUD as well.