AUDCAD Macro Bias and Analysis
Score as of 21 October 2026 · Strong Bull · Medium conviction
+5 — Bullish
AUDCAD currently reads strong bull at +5 with medium conviction, calculated on 21 October 2026. The dominant input is policy rates at +2, which favours the Australian dollar. Working against it, COT positioning sits at -2. Every scored input has a current reading.
Three-block breakdown
| Block | Value | Inputs | Read |
|---|---|---|---|
| Macro | +5 | GDP, CPI, policy rates, retail sales, unemployment, momentum | The macro block nets +5, leaning towards the Australian dollar. |
| Sentiment | 0 | COT positioning, retail crowd positioning | The sentiment block nets out flat — the inputs inside it cancel. |
| Seasonality | 0 | historical monthly tendency | The seasonality block nets out flat — the inputs inside it cancel. |
All nine signals for AUDCAD
GDP — +2
+2 — Latest annual growth readings favours the Australian dollar by 2 points.
CPI (inflation) — 0
0 — Headline inflation is balanced between the two currencies — hotter prices imply a firmer policy path for that side.
Policy rates — +2
+2 — The central-bank policy-rate differential favours the Australian dollar, before accounting for expected changes.
Retail sales — 0
0 — Consumer demand, measured through retail sales, is balanced between the two currencies.
Unemployment — +1
+1 — Labour-market slack favours the Australian dollar — a lower jobless rate scores positively.
Momentum — 0
0 — Recent releases against forecast is balanced between the two currencies — this measures surprise, not level.
COT positioning — -2
-2 — CFTC Commitments of Traders futures positioning favours the Canadian dollar, read as institutional net exposure.
Retail sentiment — +2
+2 — Crowd positioning, read contrarian, favours the Australian dollar.
Seasonality — 0
0 — The historical tendency for this month is balanced between the two currencies.
October seasonality
In October, AUDCAD has averaged +0.3% over the last two years and +0.2% over five years. The two horizons agree, which makes the tendency more usable as a tiebreaker.
Most recent releases for AUD and CAD
- CAD Median CPI y/y released 19 Oct 2026: actual 1.9, forecast 2, previous 2.
- CAD CPI m/m released 19 Oct 2026: actual 0.1, forecast 0.2, previous -0.1.
- CAD Core CPI m/m released 19 Oct 2026: actual 0, forecast not published, previous 0.1.
How this score is built
- Scores range from -10 to +10. Positive means the Australian dollar is favoured over the Canadian dollar; negative means the reverse.
- Nine independent inputs feed three conviction blocks: macro, sentiment and seasonality. Conviction rises when blocks agree, not when one input is extreme.
- This is a macro bias and pair-selection read. It is not a trade entry, an execution signal, or investment advice.