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Bias to the downside for the AUD vs the CAD.

Written by Sam Coxhead on June 22nd, 2012.      0 comments

4:48 PM (NZT) The AUD has seen grinding appreciation against the CAD for the majority of the week so far. This occurred as the expectation of further QE from the Federal Reserve grew. The markets disappointment with the subsequent no further QE action from the FED has seen the AUD demand fall, in line with other growth assets.  The less dovish than expected RBA minutes helped drive the initial AUD appreciation also. If uncertainties emerge further in Europe next week, expect the AUD to see further downward pressure from current levels.
 
The current interbank midrate is:                                                            AUDCAD  1.0335                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0293 – 1.0402
Topics: AUDCAD
 

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