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The CAD finally fights back against the NZ dollar.

Written by Sam Coxhead on March 2nd, 2012.      0 comments

4:55PM (NZT) This pairing remains in its somewhat elevated range. The CAD made up some its lost ground following the Bernanke testimony mid week, that provided lower hopes of further QE in the short term in the US. The next target on the downside for this pair is support at  .8200. Even at current levels, the CAD is very good value buying with NZD. Next week the central bank focus really heats up, with both the RBNZ and BOC set to announce monetary policy. Whilst neither is expected to make changes, the comment will be very closely watched. Both meetings are on Thursday with the RBNZ preceding the BOC. Apart from the central banks, the employment numbers in Canada on Friday will provide focus.
 
The current interbank midrate is:                                                            NZDCAD .8264                             
                                                               
The interbank range so far this week to date has been:                 NZDCAD .8226 - .8402              
 

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