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The NZ dollar moves higher against the CAD.

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

4:36PM (NZT)This pair has traded a relatively narrow range this week and looks like it will finish the weeks trade close to where it started. The BOC monetary policy decision was unchanged as expected the reaction was limited. The NZ inflation numbers bought some reasonable pressure on the NZD , but the weakness was brief. Next week’s focus starts with Canadian retail sales on Tuesday and finishes with the RBNZ monetary policy decision on Thursday. Expect no change from the RBNZ and the reaction to be limited. Whilst we are back from the lofty highs of last week, the current levels offer good value buying of CAD with NZ dollars.
 
The current interbank midrate is:                                                            NZDCAD .8082                             
                                                               
The interbank range so far this week to date has been:                 NZDCAD .8037 - .8113              
 

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