Australian Dollar / Canadian DollarAUD/CAD

AUD/CAD pairs two commodity-linked currencies. The Australian dollar is driven by iron ore, gold and Chinese demand; the Canadian dollar by oil and US trade. The pair tends to range when commodity narratives align and trend when they diverge — an oil spike favours CAD while an iron-ore rally favours AUD. Spreads sit between majors and exotic crosses. Drivers also include RBA vs Bank of Canada policy divergence and broader risk sentiment. A common expression for traders comparing two commodity blocks without taking direct USD exposure.