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Great value buying of CAD with Australian dollars

Written by Sam Coxhead on February 10th, 2012.      0 comments

5:46 PM (NZT) The AUD set new 13 year highs against the CAD this week, following the unchanged cash rate decision from the RBA. Since then it has reversed its gains and the momentum looks like it may have run its course for the time being. Some slightly better data in Canada has supported the turn around. Today’s RBA quarterly MPS has eroded demand for the AUD at the extreme current levels and the employment numbers next week in Australia will be closely watched.  Also a factor in AUD sentiment will be the growth numbers coming of the Asian markets, where Australia’s mining exports are so reliant. Needless to say current levels represent great value buying of CAD with Australian dollars.
 
The current interbank midrate is:                                                            AUDCAD  1.0684                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0650 – 1.0783
 

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