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The AUD rallies against the pressured CAD.

Written by Sam Coxhead on June 15th, 2012.      0 comments

5:20 PM (NZT) The AUD has seen reasonably steady appreciation against the CAD this week. It has been a somewhat surprising move led predominantly by the market anticipating further quantitative easing, or monetary policy stimulus, from the worlds’ leading central banks. This stimulus for growth obviously would benefit the AUD, but also drags the USD correlated CAD lower. Next week may prove to be another story as the Greek election results and G20 meeting dominate the focus on Europe. Whilst we are at the highs for the week currently, reasonable resistance should be seen for the pairing at 1.0300 should further AUD appreciation be seen.  
 
The current interbank midrate is:                                                            AUDCAD  1.0256                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0178 – 1.0263
Topics: AUD CAD
 

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