is there any relevance to this? First one is the AUD vs the USD and the second is the CAD vs the USD. Why is there such a correlation? this is only over the last month, comparing the charts over the last year, there is a bit more of a variation, but why are the charts of the last month so similiar?
They are both correlated to the USD. If AUD and CAD stay the same, but the USD moves, then the charts will look identical.
A factor that could lead to significant divergence between AUDUSD and CADUSD is the interest rate differential between Australia and Canada. The current overnight CAD benchmark rate target set by the Bank of Canada is 1.0%. Source: http://www.bankofcanada.ca/monetary-policy-introduction/key-interest-rate/ The yield on a 3-year Canadian government bond is approximately 1.2%. Source: http://www.bankofcanada.ca/rates/interest-rates/canadian-bonds/ The current cash AUD benchmark rate set by the Reserve Bank of Australia is 4.25%. Source: http://www.rba.gov.au/ The yield on a 3-year Australian government bond is approximately 3.2%. Source:http://www.bloomberg.com/markets/rates-bonds/government-bonds/australia/ The CADAUD exchange rate is currently 1CAD = 0.9526AUD. Which bond do you think looks more attractive to a fixed-income fund manager? The answer should be rather obvious, with implications on the bond/debt market. Making a profit on retail forex is do-able; the short version is truly *very* few succeed. Anyone can lose money faster than burning it by leveraging 100:1 on an undersized bankroll. Those who actually have adequate bankroll will find a better risk-reward ratio in other opportunities. In other words, if you rely on the service provider to 'train' you, you have almost no business 'trading' FX.
While they tend to move together as commodity currencies the AUD has been outperforming the CAD over the past few years. Besides the interest rate differential Australia's economy is closely tied to China while Canada is very much reliant on trade with the US. If China has a big slowdown expect CAD to appreciate against the AUD.