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Whipsaw price action for the NZDCAD pair.

Written by Sam Coxhead on July 27th, 2012.      0 comments

3:28 PM (NZT) It has been a crazy week for this pairing. Whipsawing volatility has seen the NZ dollar pushed initially lower due to the increase in global risk aversion. Then came the neutral RBNZ statement and the fighting words from ECB head Draghi and NZD weakness and been fully reversed. Further appreciation from the NZ dollar will likely be harder fought. Next week will see the majority of the lead come from the wider market risk appetite along with the monthly GDP number in Canada on Wednesday.
 
The current interbank midrate is:                                                            NZDCAD .8083                             
                                                               
The interbank range so far this week to date has been:                 NZDCAD .7978 - .8105             
 

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