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The CAD pushes towards crucial levels against the Australian dollar.

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

4:45 PM (NZT) The CAD has seen grinding appreciation over the AUD this week, albeit the momentum waned in the last day or so. The 1.0250 support level looms large for the pair, and has been aided this week by the softer than expected US  economic data overnight. The prospect of a lowering Australian cash rate in the short term, and an increasing Canadian one at some stage in the medium term was always going to put pressure on the AUD. The Australian inflation number on Tuesday remains the key to progress from here, and will be the focus of attention next week . In Canada the retail sales numbers will also be watched by will be of relatively small impact.
 
The current interbank midrate is:                                                            AUDCAD  1.0273                                                                                         
 
The interbank range so far this week to date has been:                 AUDCAD 1.0239 – 1.0378
 

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