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AUDCAD is a currency pair of the Australian dollar (AUD) and the Canadian dollar (CAD). The Australian dollar is the currency of Australia, one of the world's most resource-rich countries, and the Canadian dollar is the currency of Canada, another country abundant in resources. The Australian dollar is a currency with a high interest rate and enduring popularity, while the country is politically and economically more stable than emerging economies. Australia is rich in energy resources such as iron ore and coal, and is also a gold-producing country, which means that the Australian dollar is highly correlated to the prices of gold and other resources. In addition, as resource-rich countries are greatly affected by the economies of their export partners, the Chinese economy, Australia's largest export partner, has a significant impact on the currency. The Canadian dollar, the currency of Canada, which is rich in oil and other energy resources, tends to move in tandem with the price of crude oil and energy resources. It also has strong economic ties with its neighbor, the United States, and tends to move in tandem with the US dollar.