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The New Zealand and Canadian dollars are realtively stable

Written by Sam Coxhead on October 20th, 2011.      0 comments

4:25 PM (NZT) The NZ dollar has been relative stable to the Canadian dollar. There has been nothing in the way of economic news in either economy, so the lead has come from the overall market appetite for risk. As concerns have increased that this weekend’s EU summit will not provide absolutely definitive answers on the debt crisis, the more “risk based” NZ dollar has slightly underperformed. Next week sees the economic data action pick up once again. On Tuesday in Canada we have retail sales, followed by the cash rate announcement by the Bank of Canada, which will be unchanged. In NZ  the focus starts on Tuesday with the quarterly inflation numbers, followed by the RBNZ monetary policy decision on Thursday, which will also will be unchanged.
 
The current interbank midrate price is:                                                 .8079
                                                                                                                    
The interbank range so far this week to date has been:                 .8039 - .8149    
 

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