Australia's ties to China and the 'hard' commodities it produces have fostered a historical relationship between the local currency and precious metals. The value of the Canadian Dollar is strongly correlated with the price of crude oil as the country remains a dominant exporter of the commodity. Both currencies are therefore sensitive to broader commodity price trends.
Sentiment was just starting to find its balance this past week when another US-China trade war headline involving the US President hit the wires. Will this theme return to prominence next week or will we fall back on scheduled event risk?