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NZ dollar finds a little demand against the CAD.

Written by Sam Coxhead on June 1st, 2012.      0 comments

5:18 PM (NZT) The NZD has finally stablised against the CAD, for the time being at least. Much of the week saw sideways price action with little in the way of economic data so far in either economy to provide the lead. Canadian GDP comes later on today and will be closely watched. Ultimately it will be of little consequence however, as pressure on the BOC to hikes rates has dissipated as the concerns have again increased. Maintaining the pair above the .7700 support level remains the key to direction in the short term. Next week will likely see more of the same in the absence of major data again in either economy.
 
The current interbank midrate is:                                                            NZDCAD .7780                              
                                                               
The interbank range so far this week to date has been:                 NZDCAD .7727 - .7821              
Topics: cad, NZD
 

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