AUDCAD

(Last Updated April 15, 2021)

Hello! This is the news page for AUDCAD. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for AUDCAD

metric_name	reference_period	asset_name	asset_id	date	time	forecast	outcome
Australia Employment Change	Mar 2021	Australian Dollar	AUD	2021-04-15	01:30 GMT	35K	70.7K
Australia Unemployment Rate	Mar 2021	Australian Dollar	AUD	2021-04-15	01:30 GMT	5.7%	5.6%
Australia Participation Rate	Mar 2021	Australian Dollar	AUD	2021-04-15	01:30 GMT	66.1%	66.3%
Canada Manufacturing Sales MoM	Feb 2021	Canadian Dollar	CAD	2021-04-15	12:30 GMT	-1%	-1.6%
Australia HIA New Home Sales MoM	Mar 2021	Australian Dollar	AUD	2021-04-16	03:00 GMT

The Trend

If we observe the 90 and 30 day timeframes, we see a downtrend in place for AUDCAD.

AUDCAD Moving Averages

Nuances in the trend on AUDCAD can be understood by observing the behavior of its moving averages. The 100 and 200 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 20 and 50 day averages that imply a bearish trend. This implies that the long-term trend — meaning going back over 3 months — is bullish, while the trend over the past month and a half is bearish.

Below is a chart showing AUDCAD’s price with its moving averages.

Regarding AUDCAD’s correlations over the past 7 days, it has demonstrated the strongest correlation with NZDCAD. AUDCAD has been most correlated with NZDCAD over the past 14 days also, so this may be a recurring pattern. On the flip side, the asset least correlated with AUDCAD over the past week has been USDCHF, but over the past two weeks, CHFJPY has been the asset least correlated with AUDCAD. The chart below illustrates AUDCAD against its least correlated assets.

The View From the Weekly Timeframe

At the moment, AUDCAD’s rate is up 124 pips (1.3%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. As for the trend on the weekly timeframe, we see the clearest trend on the 10 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows AUDCAD’s price action over the past year.