Currency pair AUDCAD designates the relation of national currency of Australia to the dollar of Canada. Currency pair AUDCAD is a cross-rate and shows, how many Canadian dollars cost one Australian dollar. Using this instrument in trading, it is necessary to pay attention to the behavior of such trading symbols, as EURUSD, GBPUSD and USDJPY which more than other currency pairs correlate with this tool.
The AUDCAD trading instrument very sensitively reacts to the changes in the exchange rate of the American dollar and fundamental data from the USA, first of all - decisions of the Fed and nonfarm payrolls. Levels of the interest rate of the Bank of Canada, GDP, inflation and retail sales have the main impact on the behavior of AUDCAD. The Australian dollar is an export-oriented currency, which is dependent on demand for primary goods, including oil and gold. Also, indicators of an economic condition of the largest trading partner of Australia - China, affect its force.