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.
Missed coverage of the Australian jobs report where I discussed the outlook for $AUDUSD, $AUDJPY, $AUDCAD and $AUDNZD? The recording to the webinar is available within @DavidCottleFX market alert on the data. I highly recommend checking it out here -https://www.dailyfx.com/forex/market_alert/2020/01/23/Australian-Dollar-Official-Employment-Data-for-Decemeber.html?CHID=9&QPID=917702
The Canadian Dollar weakened as USD/CAD, AUD/CAD and GBP/CAD rose on a dovish BoC. The British Pound gained as upbeat UK business confidence cooled Bank of England rate cut bets $USDCAD $AUDCAD $GBPCAD #BoC #BoE - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/01/23/USDCAD-GBPCAD-AUDCAD-Rates-Soar-BoC-BoE-Next-Rate-Move-Eyed.html?CHID=9&QPID=917702 https://t.co/fMrX86k65A
LIVE NOW ❗ Analyst @ddubrovskyFX is covering the Australian jobs report where he is discussing the outlook for the Australian Dollar. Join the session below! $AUDUSD $AUDJPY $AUDNZD $AUDCAD #AUD #RBA - https://t.co/D7izGTT093 https://t.co/lRPd4ZkNjC
LIVE IN 30 MIN ❗ Join Analyst @ddubrovskyFX for LIVE coverage of the Australian jobs report where he will be discussing the outlook for the Australian Dollar. Signup for the session below! $AUDUSD $AUDJPY $AUDNZD $AUDCAD #AUD #RBA - https://t.co/D7izGTBoKt https://t.co/9A00ZH4RzF
LIVE IN 1 HOUR ❗ Join Analyst @ddubrovskyFX for LIVE coverage of the Australian jobs report where he will be discussing the outlook for the Australian Dollar. Signup for the session below! $AUDUSD $AUDJPY $AUDNZD $AUDCAD #AUD #RBA - https://t.co/D7izGTT093 https://t.co/JyNBf2ACiC
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