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The NZD under pressure from the Canadian dollar

Written by Sam Coxhead on March 16th, 2012.      0 comments

1:18 PM (NZT) The NZ dollar remains in a downward trend against the CAD, albeit with slowing momentum this week. Certainly mid week the NZD saw the most pressure, and the pair set 10 week lows. However the bounce back overnight was swift, as profit taking demand for NZ dollars came to the market. Next week sees some crucial data in both economies. Consolidation below the .8000 level, would open the way for further investigations lower for the pairing.
 
The current interbank midrate is:                                                            NZDCAD .8125                             
                                                               
The interbank range so far this week to date has been:                 NZDCAD .7998 - .8163               
 

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