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The CAD finally claws back some ground against the AUD.

Written by Sam Coxhead on November 23rd, 2012.      0 comments

4:45PM (NZT) The Canadian dollar finally found some ascendency over the AUD this week. The dip to the lows was breath, but the pair has managed to stay under the 1.0400 level. Expect the current levels to persist in the short term as the market digests the outcome for the Greek funding package in Europe early  next week.  Australian private capital expenditure provides the Australian focus on Thursday and this comes ahead of the Canadian GDP number for October on Friday . Tempering any material CAD appreciation will be the Governmental decision on the Chinese and Malaysian investment in key energy assets in Canada. A negative result for either would be detrimental for the CAD in the short term, and certainly represents a material risk. The 1.0300 – 1.0400 range should contain the price action in the short term ahead of the numbers later next week.
 
The current interbank midrate is:                                                   AUDCAD 1.0368  
                                                                                       
The interbank range so far this week to date has been:        AUDCAD 1.0306 – 1.0386
Topics: AUD CAD
 

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