AUD/CAD
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AUSTRALIAN DOLLAR / CANADIAN DOLLAR Trading
Trading AUD to CAD is quite popular among traders worldwide. One explanation for its appeal is the ton of knowledge accessible on each country's economic and political aspects, which could all have an effect on the currency pair. As is the case with all currency combinations, there is far more to this correlation than meets the eye.
History of AUD CAD Trading
Prior to the Australian dollar, there was the Australian pound. The nation used sterling for years until the currency was devalued against the US dollar
The country's proximity to Asia has boosted the AUD tremendously because of the trade between the two countries. The AUD's value has risen and fallen in direct proportion to the strength of this relationship. In the 1850s, the Canadian dollar was introduced. The Canadian pound was the original unit of currency, but the structure was altered to better facilitate trade with the United States. Over time, the Canadian dollar has grown in strength considerably, and the economy of the country is now rated as the 9th largest in the world. Wealth and stability have driven much of this growth, along with a thriving industry of exportable goods.
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AUD/CAD Trading FAQs
When Is the Best Time to Trade AUD/CAD?
When Is the Best Time to Trade AUD/CAD?
While forex pairs can theoretically be traded 24 hours a day, there are optimum times to trade the AUD/CAD whenever the currency pair is more volatile. From 19:00 and 04:30, the AUD/CAD is usually busy (GMT).
Why Is the AUD/CAD Currency Pair Significant to Traders?
Why Is the AUD/CAD Currency
Pair Significant to Traders?
The Australian Dollar is currently the fifth-most-traded currency in world foreign exchange markets. Trading AUD to CAD is quite popular among traders worldwide. One explanation for its appeal is the wealth of information accessible on each country's financial and political aspects, some of which could have an effect on the currency pair.
Where Can I Find a Trusted Forex Broker to Trade AUD/CAD?
Where Can I Find a Trusted
Forex Broker to Trade AUD/CAD?
As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as AUD and CAD. While there are numerous Forex brokers out there. Try to find one that suits your needs. Such as FP Markets a fully regulated broker offers all types of platforms and accounts, to suit every need.