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country currency pairs audcad

Australian Dollar vs Canadian Dollar

Australian Dollar vs Canadian Dollar (AUDCAD)

AUDCAD is the forex pair representing the exchange rate between the Australian Dollar AUD and the Canadian Dollar CAD, important in international currency markets.

-.-- -.--%
Annual change
-.--%
All time High / Low
0.80655 / 1.03964
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
0.91261
High
0.91857

AUDCAD Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: -3.08
  • Swap Short: -2.68
  • Margin Group: FX Majors
  • Margin Currency: AUD
  • Tick size: 0
  • Trading Platform: MetaTrader 4
  • Minimum Volume: 0.01
  • Maximum Volume: 0
  • Trading Schedule EET: 00:00 - 23:59 Mon - Fri
  • Hedged Margin: 1
  • Days Swap: FX Wednesday, metals-indices-oil friday

History of AUDCAD

The AUDCAD currency pair has a notable history in the world of forex trading. The Australian Dollar AUD and the Canadian Dollar CAD are both commodity-driven currencies, which means their exchange rate can be influenced by fluctuations in commodity prices, particularly those related to natural resources. This pair often attracts traders looking to capitalize on changes in global commodity markets, as both Australia and Canada are major exporters of commodities like minerals, energy, and agricultural products. Over the years, economic data, interest rate differentials, and global economic trends have played significant roles in shaping the exchange rate between these two currencies, making AUDCAD a dynamic and interesting pair for forex traders.

currency pair audcad

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Frequently Asked Questions

AUDCAD is a common abbreviation in the world of currency trading, representing the exchange rate between the Australian Dollar AUD and the Canadian Dollar CAD. This forex pair reflects the value of one Australian Dollar in terms of Canadian Dollars. Traders and investors monitor AUDCAD to speculate on potential movements in these two commodity-driven currencies. Factors such as changes in commodity prices, economic data, interest rates, and global market dynamics can all influence the exchange rate between AUD and CAD, making it a significant pair for those looking to trade or invest in currencies and commodities.

To trade the AUDCAD pair, you need to open an account. Once you have an account, you can use the broker’s trading platform to place trades on the AUDCAD pair. It is important to conduct thorough analysis using technical indicators, chart patterns, and fundamental factors to make informed trading decisions. Consider factors such as interest rate differentials, economic data, and geopolitical events in Australia and Canada, as they can influence the exchange rate. Traders can use various trading strategies, such as trend following, range trading, or breakout trading, depending on their trading style and risk tolerance.

The trading hours for AUDCAD can be found here

Popular trading strategies for the AUDCAD pair include trend following, range trading, breakout trading, and carry trade strategies. Trend following involves trading in the direction of the prevailing trend, whether it’s upward or downward. Range trading seeks to profit from price oscillations within a defined range, buying near support levels and selling near resistance levels. Breakout trading aims to capitalize on price movements when the exchange rate breaks significant support or resistance levels. Carry trade strategies involve borrowing funds in a currency with a low-interest rate (such as the Japanese Yen) and investing in a currency with a higher interest rate (like the Australian Dollar), earning profits from the interest rate differential. Traders often choose strategies that align with their trading style and risk tolerance.

When trading the AUDCAD pair, it’s essential to consider factors such as economic data, interest rates, commodity prices, geopolitical events, and global market sentiment. Economic indicators and central bank policies in both Australia and Canada can significantly impact the exchange rate. Additionally, as both countries are major exporters of commodities, changes in commodity prices, particularly those of key exports like oil and metals, can influence the pair. Geopolitical developments and broader market sentiment can also play a role in AUDCAD’s price movements. Therefore, staying informed and conducting thorough analysis are critical for successful trading in this currency pair.