Why is CAD considered a commodity currency?

The CAD is considered to be a commodity currency because of the large amount of natural resources, especially oil, that are mined and exported to southern neighbors. The USDCAD is one of the most traded currency pairs in the world.

Are CAD and Aud the same currency?

Both of these currencies are regarded as commodity currencies and are considered to be a relatively stable currency pair. The CAD fortunes are closely related to the U.S. because it is their largest trading partner and neighbor. The AUD is more effected by its alignment with Australia and emerging Asian markets.

Is audcad bullish a good investment?

Trade Safe! AUDCAD BULLISH The AUDCAD pair shows to be very promising, a strong trend to the upside is sure to follow over several weeks and months.The AUDCAD pair shows to be very promising, a strong trend to the upside is sure to follow over several weeks and months.

Will the USD/CAD bulls stay resilient in 2023?

As things currently stand in early 2023, the respective policy outlooks of the BoC and the Fed favor USD/CAD bulls. It’s worth noting, however, that the commodity-sensitive Canadian Dollar could stay resilient against its American counterpart in case oil prices continue to rise.