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The AUD pushes lower against the CAD

Written by Sam Coxhead on May 4th, 2012.      0 comments

6:41 PM (NZT) The AUD has seen considerable pressure from the CAD this week following the surprise 50pt to the cash rate from the RBA. The pair found support on its brief move to the 1.0100 level and the 1.0200 level is the initial target to the upside for the AUD. Next week  both economies have the release of their respective employment numbers and will offer crucial insight. Expect both releases to be closely watched and appropriate reaction from any release markedly away from expectations.  
 
The current interbank midrate is:                                                            AUDCAD  1.0144                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0105 – 1.0302
 

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