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The NZ dollar outperfomed the CAD this week.

Written by Sam Coxhead on September 14th, 2012.      0 comments

3:05 PM (NZT)The NZ dollar has seen grinding appreciation against the Canadian dollar this week. The externally driven increased in risk appetite has been the primary driver of the move on the week. It will be interesting to see if the resistance at .8100 can contain any further appreciation. The CAD has been dragged lower by the broad based underperformance by its closely aligned US dollar. Next week the focus comes in the form of the NZD 2nd quarter GDP number on Thursday, ahead of the Canadian inflation number on Friday. Any reversal on this week’s complete underperformance by the US dollar will assist the CAD to curb further NZD appreciation.
 
The current interbank midrate is:                                                            NZDCAD .8059                              
                                                               
The interbank range so far this week to date has been:                 NZDCAD .7888 - .8072               
 
Topics: NZD CAD
 

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