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The Australian dollar grinds higher vs the CAD.

Written by Sam Coxhead on July 20th, 2012.      0 comments

4:40PM (NZT) The Australian dollar has seen constant grinding appreciation over the Canadian dollar this week. The central bank portfolio diversification has really benefitted the AUD. The market is back at levels that represent great value buying of CAD with Australian dollars, albeit not quite at the levels seen earlier this year. Next week sees Canadian retail sales numbers released on Tuesday. In Australia the focus for the week are the quarterly inflation numbers on Wednesday. Expect further appreciation from the Australian dollar to be harder fought from the current levels.
 
The current interbank midrate is:                                                            AUDCAD  1.0485                                                                                        
 
The interbank range so far this week to date has been:                 AUDCAD 1.0353 – 1.0518
 

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