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Is it a good time to transfer AUD to Canadian dollars?

Written by Sam Coxhead on October 20th, 2011.      0 comments

4:28 PM (NZT) The pairing of the Australian and Canadian dollars has been relatively stable this week. With little in the way of top tier economic data in either economy, the lead has come for the wider market appetite for risk. Mostly the market has seen sideways trade as the lowering of expectations of a definitive action plan on the European debt situation at this weekend EU summit has played out. Next week will see a return to focus on the economic data front. On Tuesday in Canada we have retail sales, followed by the cash rate announcement by the Bank of Canada, which will be unchanged. In Australia the focus comes on Wednesday with the quarterly inflation numbers. Current levels represent good value buying of CAD with Australian dollars.
 
The current interbank midrate price is:                                                 1.0420
                                                                              
The interbank range so far this week to date has been:                 1.0360 – 1.0450     
 

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