Australian Dollar / Canadian Dollar

AUD/CAD is the cross rate showing how many Canadian dollars one Australian dollar is worth. Because both currencies belong to economies built on commodity exports, they are grouped as 'commodity currencies'. The Australian dollar is managed by the Reserve Bank of Australia and the Canadian dollar by the Bank of Canada.

The two countries rely on different commodities: crude oil and energy exports are decisive for the Canadian economy, while iron ore, coal and natural gas stand out in Australia. For this reason, the relative movement of oil prices and metal prices can affect the direction of AUD/CAD. Australia's trade dependence on China and Canada's on the US are also reflected in the pair, so the growth gap between those two large economies is taken into account when following the rate.

The difference between the two central banks' interest rate decisions and inflation data is a fundamental element in following the pair. On Lzzo.com, the AUD/CAD value is a cross reference rate calculated via the US dollar from market exchange rates; it is not a bank rate.