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The AUD grinds back against the Canadian dollar.

Written by Sam Coxhead on September 14th, 2012.      0 comments

4:15 PM (NZT) This pair  has had a mixed week with the AUD seeing initial weakness before spiking higher following the positive news from Germany with regards to its support of the ESM .  The pair sits just below tough resistance at 1.0240, direction from the current levels remain unclear, but further appreciation from the AUD will see some hard work put in.  Next week proves to be reasonably thin on domestic focus for both economies. We have just the RBA monetary policy meeting minutes on Wednesday in Australia, and inflation numbers on Friday in Canada. Expect the bulk of the lead to come from the wider market appetite for risk. If the Us dollar can see any kind of bounce back following this week’s very heavy performance, this will aid the CAD take back  some of this week’s lost ground.
 
The current interbank midrate is:                                                            AUDCAD  1.0214                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0072 – 1.0235
Topics: AUD CAD
 

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