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The AUD remains strong against the Canadian dollar

Written by Sam Coxhead on February 24th, 2012.      0 comments

4:36 PM (NZT) The Australian dollar remains close to record levels against the CAD. The CAD did show signs of strength early in the week, but the capitulation of the US dollar once the EURO rebounded, saw the CAD follow it lower. Further strength from current levels will prove to be harder fought for the AUD, as it approaches the upper levels of the recent 1.0600 - 1.0750 range. Next week the political situation in Australian will be a key focus, with the Australian economic data likely to take a back seat. Canadian GDP numbers on Friday will be closely watched, and as usual for the CAD the USD fortunes will be a leading factor.
 
The current interbank midrate is:                                                            AUDCAD  1.0712                                                                                        
 
The interbank range so far this week to date has been:                 AUDCAD 1.0592 – 1.0737
 

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