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The AUD remains close the the record high against the CAD

Written by Sam Coxhead on February 17th, 2012.      0 comments

5.35 PM (NZT) This pairing continued to trade in its recent range, close to the record high of 1.0783. There has been little news in Canada this week, so most of the focus was based in Australia. The better than expected employment numbers certainly gave the AUD a boost, and will probably preclude any chance of a cash rate cut at next month’s monetary policy meeting from the RBA. This should underpin AUD support, should any softer price action eventuate. Whilst the global economic data enjoys its recent positive upswing, any dips in the AUD should be relatively shallow in the short term. The Greek debt swap situation remains the primary risk to the AUD fortunes in the short term.
 
The current interbank midrate is:                                                            AUDCAD  1.0731                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0641 - 1.0752
 

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