The AUD/CAD currency pair, which expresses the value of the U.S. dollar in terms of the Canadian dollar, is effectively a risk-neutral pair with regard to the fact that both currencies (AUD and CAD) are recognizably exposed to shifts in prices among commodity markets.
If a country has significant exposure to the Oil & Gas industry, for instance, and particularly if it is a net exporter of oil-related products, the country's currency is likely to find itself subject to oil price volatility. The largest export category of Canada is mineral fuels including oil ($98.4 billion