Introduction to the CAD/AUD
Canada’s official currency is the Canadian dollar (CAD). The Canadian dollar consists of 100 cents. It is sometimes depicted with a “c” along with the dollar sign to be c$. This is to differentiate it from other currencies denominated in dollars.
About the AUD
History of the CAD/AUD
What to note when trading the CAD/AUD
- The Chinese PMI index. The Chinese economy’s growth rate (GDP rise) and any data or events linked to the Chinese economic performance.
- The Australian reserve bank (RBA) meetings and their minutes;
- The gap between the offer price and the ask price provided by the broker is distributed in trading. This pip gap is how revenue is produced by brokers. The distribution often differs and the form of account layout from broker to broker.
- The inflation study or the Australian CPI (consumer price index).
- The central bank is tracking these data; the industry, retail, and development segments of the Australian PMI;
- Commodity prices.
Spread and Volatility for the CAD/AUD
Factors influencing the CAD/AUD
A pip is the smallest foreign exchange sector trading percentage. AUD/CAD is stated to two decimal points. A pip is only the lowest number that can actually be applied to this sum (or subtracted from it).
Both currencies are solid. The power of AUD and CAD depends on Australia and Canada’s economic results. When dealing AUD/CAD you will pay attention to main variables that decide these countries’ financial stability.