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The AUD at pivotal levels against the CAD.

Written by Sam Coxhead on May 11th, 2012.      0 comments

5:33 PM (NZT) The AUD remains under pressure relative to recent history against the CAD. Yesterdays stronger than expected Australian employment numbers did manage to boost the AUD from its lows, but it remains weaker than where it started the week. In the current wider global environment, expect the CAD to maintain the current pressure on the AUD.  The recent Chinese data is not helping the fortunes of the AUD with persistently high inflation and lower demand for imports. The Australian RBA monetary policy meeting minutes on Tuesday and Canadian inflation numbers Friday will provide the data focus next week for this pair.
 
The current interbank midrate is:                                                            AUDCAD  1.0102                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0048 – 1.0160
 

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