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AUD to CAD – Canadian Dollars to Australian Dollars

When converting Australian Dollars to Canadian Dollars (AUD to CAD), or CAD to AUD, by exchanging via Direct FX, you will save a significant amount of money. Our wholesale currency exchange rates for money transfers are significantly more competitive than bank foreign exchange rates. Being Australasian based, we specialise in knowing what drives AUD/CAD currency conversion rates.

AUD to CAD Overview: Both the Australian and Canadian dollars are regarded are commodity currencies. AUD CAD is a relatively stable currency pair. The CAD fortunes are more closely aligned with those of the US, as it is their largest trading partner and neighbour. The AUD fortunes are aligned with those of Australia and Asian emerging markets. A break down in correlation can happen in periods of dislocated global growth as we have seen following the 2008 global financial crisis. The AUD closer ties to the Asian economies has seen it consolidate at historically elevated levels again the CAD.

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Historical Ranges: 1 year 5 years 10 years
AUD/CAD .9731 – 1.0395 .9134 – 1.0715 .7162 – 1.0779

Current Official Cash Rates:
Reserve Bank of Australia (RBA): 1.50%         Bank of Canada (BoC): 1.75%


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The Canadian dollar (CAD) has outperformed the Australian dollar (AUD) over the past week, driving the pair to a low of 0.9110 in the wake of Fridays employment data. That’s the second time the pair has tested the 0.9110 area, after bouncing from there a couple of weeks ago. Whether or not that support level continues to hold will largely depend on what the Bank of Canada say at their regular interest rate meeting this week. They are not expected to cut interest rates at all and they may well upgrade their forecasts for GDP over the coming months. That should support the CAD and potentially see the AUDCAD have another crack at 0.9110 support.

Exchange Rates
Current Level: 0.9130
Resistance: 0.9200
Support: 0.9110
Last Weeks Range: 0.9110-0.9204

The Australian Dollar (AUD), Canadian Dollar (CAD) pair has been bouncing around current range bound levels for a couple of weeks now pivoting around the 0.9160 area. A massive Canadian Trade Balance with a surplus of 762 million for May just the second time since March 2017 and a positive Australian Trade Balance and Building Approvals resulted in the cross going nowhere. The RBA cut their benchmark cash rate from 1.25% to 1.0% Wednesday for the second straight month. The first time back to back cuts have happened in seven years as the RBA tries to front foot ongoing slowing growth. The sole policy of every central bank in the world is asset price inflation by providing cheap money to stimulate growth and inflation. Next week’s Bank of Canada cash rate release and statement should give the pair direction.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9171
The interbank range this week has been: AUDCAD 0.9124- 0.9204

The Australian Dollar (AUD), Canadian Dollar (CAD) broke its range bound mould Monday after dropping below support of 0.9160 to 0.9130 as risk investors left the table. The Aussie is weaker heading into today’s RBA announcement- perhaps a sign of things to come? Consensus suggests the RBA will deliver a dovish statement and cut their cash rate from 1.25% to 1.0% today at 4.30 NZT. The Reserve Bank of Australia look ready to deliver back to back cuts as they have recently signalled that easing policy will be needed to boost economic growth. Inflation dropped from 1.8% to an alarming 1.3.% in April and unemployment is starting to rise. However the initial analysis on perceived further cuts was that the RBA would cut in August because the data wasn’t weak enough, this was said only a few days ago. Traditionally if this is anything to go off, the RBA has gone two moves- 3 months apart, if they stick to this we will see rates unchanged today and a higher AUD.

Exchange Rates
Current Level: 0.9152
Resistance: 0.9200
Support: 0.9100
Last Weeks Range: 0.9125-0.9203

Price in the Australian Dollar (AUD), Canadian Dollar (CAD) pair has flatlined around 0.9175 this week. I would suggest a stand off between heavy buyer interest back in Crude Oil and the surging commodity markets cancelling out any real shifts and offsetting Loonie bearishness stemming from poor recent Canadian Retail Sales. Canadian m/m GDP is expected to be positive around 0.2% and show the first back to back expansion since late 2018. We expect downside risks to continue with 0.9120 to be retested.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9170
The interbank range this week has been: AUDCAD 0.9154- 0.9196

The Australian Dollar (AUD) has recovered off its multi-year low of 0.9100 against the Canadian Dollar (CAD) pushing higher to 0.9190 during the overnight NY session. Canadian Retail Sales printed poor Friday at 0.1% from the 0.3% markets were expecting and seemed like the saving grace of the cross falling below the key level of 0.9100. Risk currencies have enjoyed a little relief this week with Trump and the Chinese officials confirming they would get together at Thursday’s G20 and discuss trade options. We still expect the downside to be further tested.

Exchange Rates
Current Level: 0.9173
Resistance: 0.9250
Support: 0.9120
Last Weeks Range: 0.9105-0.9212

The Australian Dollar (AUD) broke new ground lower this week to 0.9120 against the Canadian Dollar (CAD) bringing into play the massive multi year low of 0.9100. Three significant factors have influenced price this week in the pair- A dovish RBA Lowe speech with at least one further rate cut this year to be expected. Crude Oil rallied to 57.00 a whole 5.5% and Canadian m/m CPI printed at 0.4% much higher than the 0.1% markets predicted. Holding key support of 0.9100 looks a tall order, we don’t expect this level to hold but Canadian Retail Sales could determine tonight.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9125
The interbank range this week has been: AUDCAD 0.9113- 0.9229

The Australian Dollar (AUD) recovered slightly at the weekly close rebounding back to 0.9230 against the Canadian Dollar (CAD) but continued its demise overnight to 0.9185 with a lack of buyer support for the Aussie. Crude Oil continues to bounce around, Crude dropping 1% during overnight trading to 51.90, but with big picture geopolitical outcomes weighing on the AUD especially with Chinese data printing poor such as Friday’s Industrial Production this continues to weigh on the Aussie. All eyes will be on Today’s RBA minutes from the 4th June Monetary Policy Statement. 0.9100 marks a level which has not been seen prior to 2013. Should the pair travel this low it’s anyone’s guess how low it could go.

Exchange Rates
Current Level: 0.9191
Resistance: 0.9230
Support:0.9175
Last Weeks Range: 0.9178-0.9254

The Australian Dollar (AUD) lost further ground against the Canadian Dollar (CAD) this week extending a second week of declines to 0.9205. Aussie employment numbers were mixed with the unemployment rate up at 5.2% based on 5.1% predictions. The country added more than 42,000 to the workforce but the gains were mostly part time workers at 39,800 which kept the AUD under pressure. On the upside the participation rate clicked higher to 65.9% to 66% in May which is a record high. Crude Oil continues to depreciate trading now just over 51.00 per barrel but this strangely has had no real impact on downside to the CAD. The cross now trades only a few points away from the yearly low of 0.9200 and looks to retest this level.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9209
The interbank range this week has been: AUDCAD 0.9178- 0.9284

The buoyant Australian Dollar (AUD) turned sharply lower mid last week off 0.9400 levels closing the week against the Canadian Dollar (CAD) around 0.9300. The loonie has extended its run into Tuesday reaching a fresh two week low of 0.9230. Late Friday a solid Canadian employment figures surprised markets with an additional 5,000 people were expected to be added to the labour force but the number turned out to be much higher at 27,000, this follows the stellar print from the 106,000 increase in April. The unemployment rate also was impressive dropping to 5.4% from 5.7% expected. 0.9200 offers huge support in the cross, a drop through here could spell a much larger decline lower.

Exchange Rates
Current Level: 0.9230
Resistance:0.8830
Support: 0.8700
Last Weeks Range: 0.9225-0.9393

The AUD has given back some of last week’s gains and after opening the week at a high of 0.9394 is now back around the 0.9345 mark. With pretty much all the negative news priced into the AUD if 0.9325 holds , buyers of AUD at current levels should be rewarded with a move towards 0.9400 and above.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9345
The interbank range this week has been: AUDCAD 0.9331- 0.9395

The Australian dollar (AUD) has outperformed the Canadian dollar (CAD) this week, rallying from a low of 0.9288 to currently trade around 0.9350. The Bank of Canada rate decision last night failed to provide any significant surprises with the overnight cash rate held steady at 1.75%. We have some economic data from both countries out over the next day or so, with Private Capital Expenditure from Australian and GDP from Canada, but the main event in the coming week will be the RBA interest rate decision on Tuesday 4th June. A rate is almost a certainty and that should provide a bit of volatility in the AUD. We continue to view in dips in the AUDCAD cross as a buying opportunity with the AUD looking to make further gains against the CAD.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9352
The interbank range this week has been: AUDCAD 0.9291- 0.9368

With Crude Oil back below 60.00 per barrel, dropping to a low of 58.20 late in the week the Australian Dollar (AUD) bounced off the low of 0.9200 to recoup earlier losses pushing as high as 0.9320 Friday versus the Canadian Dollar (CAD). Earlier global concerns weighed in again after poor US data which led to falls in equities and commodity currencies. Price action looks to retrace towards the earlier low with a thin calendar through to Thursdays Bank of Canada Cash rate announcement and policy statement. An unchanged 1.75% is widely expected with inflation meeting the target range in the first quarter this year.

Exchange Rates
Current Level: 0.9303
Resistance: 0.9370
Support: 0.9200
Last Weeks Range: 0.9200-0.9315

With Crude Oil prices falling overnight to 58.10 a 5.7% drop in value this devalued the Canadian Dollar (CAD) back off the midweek low of 0.9201 to 0.9300 levels morning versus the Australian Dollar (AUD). Earlier the RBA ensured movement was limited to the downside (low of 0.9201) after commenting midweek that they have finally realised, after poor recent employment data the economy is slowing. This in turn should see a cut to the cash rate at the June 4 meeting with possibly another cut to follow later in the year. Core Canadian Retail Sales also initially boosted the CAD when they published at a whopping 1.7% from the expected 0.8% earlier yesterday. We think price should retrace back towards the early week low of 0.9201 when a lack of support for the AUD resumes.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9273
The interbank range this week has been: AUDCAD 0.9201- 0.9312

The AUD has opened the week with a stronger tone against the CAD up at 0.9310, but has subsequently slid to the 0.9290 level as the risk averse tone continues across all markets as China/US trade tensions ratchet higher and concerns around an RBA rate cut next month…Given the potential for the US/Canada trade agreement to be settled look for the CAD to revert to its upward trend against the AUD on this cross…moves back into the mid 0.9300 level should be taken as AUD selling opportunities.

Exchange Rates
Current Level: 0.9284
Resistance: 0.9450
Support: 0.9230
Last Weeks Range: 0.9229-0.9397

Although the CAD has weakened against the USD over the week, the prevailing risk-off tone and election uncertainty has seen the AUD weaken on cross throughout the week. From 0.9390 on Monday the AUD/CAD is now around 0.9274 …0.9260 level should hold for the day heading into the weekend and election but a break of this level would see a test of 0.9200/05 support mark , last seen in October last year.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9276
The interbank range this week has been: AUDCAD 0.9262 – 0.9431

The Australian Dollar (AUD) has fallen four weeks’ straight against the Canadian Dollar (CAD) to 0.9360 Tuesday. Overnight US equities dropped more than 2.5% each across all three indices with a risk averse feel back dominating market movement. With further break down in trade talks between the US and China the Aussie will continue to remain under pressure as this has massive economic consequences. Canadian employment rose by a massive 107,000 Saturday rebounding after falling in March with notable increases in part time work for the youth. The unemployment rate also dropped to 5.7% from 5.8% the releases taking the cross from the 0.9420 area to 0.9370. With more risk on the table with US China trade we see the Aussie retesting the early March low of 0.9320.

Exchange Rates
Current Level: 0.9363
Resistance: 0.9430
Support: 0.9340
Last weeks Range: 0.9348-0.9456

The Australian Dollar (AUD) drifted lower against the Canadian Dollar (CAD) as markets continued its risk off mood. The RBA left the cash rate unchanged Tuesday at 1.5% with a neutral wait and see style slant, initially dropping the Aussie to 0.9365 before it recovered to 0.9460. Canadian Trade Balance published down on expectations of -2.4B at -3.2B with imports increasing 2.5% in March narrowing the deficit from -3.4B in February. Canadian Jobs numbers prints early tomorrow. Currently trading around the 0.9420 area we see further downside in the pair eventuating.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9422
The interbank range this week has been: AUDCAD 0.9376- 0.9456

The Australian Dollar (AUD) continued to lose ground against the Canadian Dollar (CAD) towards the end of the week dropping to 0.9420 at the close. Aussie Building approvals printed a disappointing number of -15.5% versus -12.5 confirming further deterioration in the Australian property market. The CAD held the upper hand into the weekly close and continued its run into Tuesday. Today’s Retail Sales and RBA cash rate and monetary statement promises to be action packed.

Exchange Rates
Current Level: 0.9394
Resistance: 0.9510
Support: 0.9315
Last Weeks Range: 0.9373-0.9508

The Australian Dollar (AUD) has been the worst performer over the week across the board and dropping in value 0.53% against the Canadian Dollar (CAD). Canadian GDP contracted -0.1% for February following 0.3% growth in January pushing the CAD initially lower. But talk of a rate cut in next Tuesday’s RBA announcement has investors selling the Aussie. Today’s Building approvals looks to be crucial to affecting the decision with the property market performing poorly. Price Friday hovers around the 0.9420 close to the seven week low of 0.9410

Exchange Rates
The current interbank midrate is: AUDCAD 0.9417
The interbank range this week has been: AUDCAD 0.9411- 0.9507

The Australian Dollar (AUD) held around the 0.9440 area late during Friday trading against the Canadian Dollar (CAD) going on to reverse early week losses back to 0.9500 levels leading into the close. Crude Oil prices have come off earlier highs bringing sellers of CAD back into the picture. Currently price is holding steady circa 0.9490 levels with Canadian m/m GDP to print tomorrow and Aussie Building Approvals Friday.

Exchange Rates
Current Level: 0.9477
Resistance: 0.9500
Support: 0.9440
Last Weeks Range: 0.9438-0.9540

A combination of Australian dollar (AUD) pressure and stronger crude oil prices boosting the Canadian dollar (CAD), helped to dive this pair lower throughout the past week and overnight it reached 0.9502 before staging small bounce. Today’s Australian inflation data will be key for direction going forward. We suspect the risks are skewed toward a weaker than forecast result, and further AUD weakness. Support at 0.9480 is the next target.

Exchange Rates
Current Level: 0.9533
Resistance: 0.9600
Support: 0.9480
Last Weeks Range: 0.9502-0.9606

On this cross the AUD has rallied from 0.9516 to around 0.9570 mainly on the back of the softer data from Canada pointing to a slowdown in the Canadian economy for Q1. We favour the AUD on this cross and look for a break over the 0.9600 level to test 0.9620 later in the week.
Exchange Rates
Current Level: 0.9563
Resistance: 0.9600
Support: 0.9440
Last Weeks Range: 0.9476-0.9581

The Australian Dollar (AUD) extended its edge over the Canadaian Dollar (CAD) this week reaching a fresh high of 0.9565 after RBA governor talked up the economy. Debelle said they are in a position to lower rates from the current 1.50% and he would watch incoming data to make a call on if the housing market was stabalising. Wow really?. Crude oil came off its current high falling back to 63.70 down 1.60% overnight based on the (IEA) International Energy Agency saying ongoing global uncertainty could lead to lower demand. Risk sentiment dragged the Aussie lower, the CAD has recovered to 0.9530 during NY.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9530
The interbank range this week has been: AUDCAD 0.9477- 0.9564

The Australian Dollar (AUD) rose to 0.9450 Friday against the Canadian Dollar (CAD) buoyed by a string of fantastic AUD data releases ending with Retail Sales printing at 0.8% from the 0.3% experts were predicting. Price fall back towards 0.9500 at the close of business Friday after being at 0.9550- based on the Canadian Employment release and Crude Oil tracking to new highs. This week price has been bouncing around the 0.9500 area as markets await Westpac consumer sentiment.

Exchange Rates
Current Level: 0.9481
Resistance: 0.9550
Support: 0.9415
Last Weeks Range: 0.9549-0.9415

Governor Lowe left rates on hold at 1.50% Tuesday saying the outlook for a global downturn is real with downside risks ahead for the Aussie economy. The Aussie weakened to around 0.9415 against the Canadian Dollar (CAD) but was soon back trading at the 0.9500 mark Friday. The CAD has generally been a little choppy but with Crude Oil prices holding up over 62.00, this has given strong support for the Loonie across the board but with price now trading in the red overnight this has put pressure firmly back on the CAD. Canadian employment data publishes tomorrow morning with a slightly negative jobs number predicted with unemployment expected to remain at a hefty 5.8%

Exchange Rates
The current interbank midrate is: AUDCAD 0.9512
The interbank range this week has been: AUDCAD 0.9414- 0.9523

The Australian Dollar (AUD) started the week on a positive note gaping to 0.9530 on risk sentiment but was soon under pressure from the Canadian Dollar (CAD) after strong overnight Crude oil prices pushed buyers into CAD. Crude rallied to 61.55 the high where it currently sits. Earlier we saw price drop back to 0.9470 after Canadian monthly GDP printed much higher at 0.3% than the 0.1% markets were expecting offsetting declines from late 2018. Current levels represent good buying levels buying CAD after being as low as 0.9315 in early March.

Exchange Rates
Current Level: 0.9460
Resistance: 0.9520
Support: 0.9410
Last Weeks Range: 0.9451-0.9562

The Australian Dollar (AUD) retreated from its mid week high of 0.9562 against the Canadian Dollar (CAD) to around 0.9500 levels in what has been a choppy week. No real significant data has left the pair drifting around the weekly open. Tomorrows Canadian m/m CPI should give us more to go on.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9512
The interbank range this week has been: AUDCAD 0.9485- 0.9562

The Australian Dollar (AUD) continued is push higher on Monday’s open to 0.9455 against the Canadian Dollar (CAD) a seven week high. Crude oil has tracked lower off its recent highs and Friday’s Retail sales put the CAD well on the backfoot with the release disappointing. This week’s focus will be firmly on Canadian m/m GDP for April with March showing a poor -0.1%.

Exchange Rates
Current Level: 0.9528
Resistance:0.9600
Support: 0.9480
Last Weeks Range: 0.9413-0.9547

The Australian Dollar (AUD) has climbed to 0.9520 this week against its struggling Canadian Dollar (CAD) counterpart. This to me doesn’t make a lot of sense after Crude oil is trading just off the November high of 60.40 at 59.80 which would usually suggest significant buyer interest in the CAD but this has not happened. Yesterday’s buoyant Australian jobs data pushed up interest in the Aussie but overall the lack of any CAD buying does suggest to me how much the Canadian economy is struggling. We know how much the BoC was dovish in their last meeting, but I suspect they are staring down the barrel of a rate cut fairly soon.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9504
The interbank range this week has been: AUDCAD 0.9411- 0.9521

Despite recent strong employment data the Canadian Dollar (CAD) has struggled to gain any momentum over the past three weeks of trading. Last week the Australian Dollar continued its bullish run higher to 0.9450 and Tuesday 0.9470. Crude Oil prices are the highest they have been in 5 months at reaching 59.20 but this has failed to spark CAD buyers. Usually with such a decent spike in Crude we would see strong CAD strength but this just hasn’t eventuated showing how much the Canadian economy is under the pump. RBA minutes today and Thursday’s Aussie jobs data along with Saturday’s Canadian CPI could make for a volatile cross. Huge resistance is seen at 0.9500 – if price travels through here we could see 0.9570

Exchange Rates
Current Level: 0.9464
Resistance: 0.9490
Support: 0.9420
Last Weeks Range: 0.9386-0.9490

The Australian Dollar (AUD) retraced lower off the five week high of 0.9490 versus the Canadian Dollar (CAD) as markets turned risk averse based on Brexit headlines a week of no data releasing in the pair we have seen support return for the CAD with the latest run up in Crude Oil with prices reaching 58.74 on demand and a lack of supply. We have a way to travel to match the yearly low of 0.9315 but if crude extends higher who knows.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9410
The interbank range this week has been: AUDCAD 0.9386- 0.9490

The Australian Dollar (AUD) surged back towards the five week high of 0.9483 Tuesday against the Canadian Dollar. Risk markets preferring the slightly more stable AUD after comments from last week out of the Bank of Canada (BoC) meeting highlighted they would not be looking to raise rates based on uncertainty and a deteriorating economic outlook. It’s a quiet week of data for the pair with just RBA assistant governor Debelle speaking today and Canadian Manufacturing figures Friday.

Exchange Rates
Current Level: 0.9462
Resistance: 0.9520
Support: 0.9400
Last Weeks Range: 0.9389-0.9482

The Australian Dollar (AUD) has had slightly more support over the Canadian Dollar throughout the week rising to 0.9470 from the weekly open of 0.9418. Both the CAD and AUD have been weak with worse than expected data publishing but the Aussie has feared a touch better. The Bank of Canada maintained the cash rate at 1.75% but has watered down earlier predictions that rates will go higher with outlook uncertainty on the horizon. They need further stimulus to get greater confirmation around timing of future increases. The Aussie looked gone for all money during yesterday’s quarterly GDP announcement coming in at 0.2% from 0.5% expectations but Trade Balance saving the day with a positive reading of 4.55B over 2.85B stabalising the currency. We still favour movement to the downside in the coming weeks.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9432
The interbank range this week has been: AUDCAD 0.9388- 0.9477

Surprisingly with all the Australian Dollar weakness of late the Aussie (AUD) has extended its bull run from last week’s low of 0.9310 against the Canadian Dollar (CAD) as troubles brew for the CAD. Late last week’s string of poor Canadian data bought back bears into the close with price closing at 0.9410 and up towards 0.9440 Tuesday. The crude oil rally to 57.00 came to an end with price easing back to 56.40 along with equities also closing weaker. 0.9470 acts as staunch resistance with expectations price will drift off for the rest of the week. RBA today who will more than likely be dovish along with recent crappy data.

Exchange Rates
Current Level: 0.9434
Resistance: 0.9470
Support: 0.9380
Last Weeks Range: 0.9316-0.9475

The Australian Dollar (AUD) demise continues against the Canadian Dollar (CAD) falling to 0.9330 depreciating every week in 2019 except one. We did however see early support for the Aussie with risk currencies higher early after positive comments made headlines in the ongoing trade talks between China and the US, but since Wednesday optimism has been scaled back. Crude oil came off a low of 55.00 to push back above 57.00 to 57.30 Friday benefited the CAD. Canadian monthly CPI prints tomorrow morning and should give us an updated read on the state of the economy.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9342
The interbank range this week has been: AUDCAD 0.9318 – 0.9475

On Friday the Australian Dollar (AUD) looked gone for all money travelling to 0.9315 against the Canadian Dollar (CAD) after a string of bad news hampered any upside moves. Crude Oil has started the week down over 3.2% to 55.45 and has put pressure on the CAD in the early sessions with the Aussie recovering to 0.9460 Tuesday. China and US talks are producing positive headlines which has suited the AUD along with news the Chinese won’t ban Australian Coal. The long term bearish trend channel from 0.9760 is still in play, look for further downside in the pair.
Exchange Rates
Current Level: 0.9453
Resistance: 0.9480
Support:0.9360
Last Weeks Range: 0.9319-0.9487

The Australian Dollar (AUD) held its ground over the week against the Canadian Dollar (CAD) around the 0.9450 zone but has deteriorated Thursday on bad news. After surprisingly good employment data we briefly saw 0.9485 before Westpac announced they expect the RBA to cut the cash rate in both August and November this year. They also see unemployment rising from the current 5.0% to 5.5%. China announced a total ban of Australian coal imports for 2019 which is China’s top coal supplier and will cap overall imports. Things are certainly not looking to rosy for the Australian economy falling to 0.9430 as coal being Australia’s biggest export earner. Expect price to drop through the 2018 low of 0.9100 soon.
Exchange Rates
The current interbank midrate is: AUDCAD 0.9388
The interbank range this week has been: AUDCAD 0.9316- 0.9487

The Australian Dollar (AUD) extended last week’s gains against the Canadian Dollar (CAD) to 0.9475 Monday before easing back towards 0.9430 on surging Crude Oil prices. It’s a busy week for the Aussie with plenty of data to publish including employment data. Canadian Retail Sales prints Friday. We still favour a retest of 0.9760 the December high once trade talks have been agreed between China and the US.

Exchange Rates
Current Level: 0.9435
Resistance: 0.9470
Support: 0.9380
Last Weeks Range: 0.9383-0.9476

Last week’s solid Canadian jobs report has carried the Canadian Dollar (CAD) early this week to 0.9380 against the Australian Dollar (AUD). Choppy movement from Wednesday saw the Aussie Dollar move up to 0.9470 but as Crude oil posted a 1.0% gain on the day the Aussie has come off the high falling back to 0.9440. A lack of data this week in the pair with only Canadian Manufacturing printing will see the cross meander into the close. The long term bearish move from  0.9760 if still in play.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9434
The interbank range this week has been: AUDCAD 0.9382- 0.9468

Fantastic jobs numbers late last week took the Canadian Dollar (CAD), Australian Dollar (AUD) pair to 0.9400 levels after figures confirmed an increase of 66,800 jobs in January. Analysts were only expecting 8,000, the third month in a row job numbers have been good pushing price to November 2018 levels. With Crude stable around the 52.50 area we should see price ease lower with a lack of data out this week for the pair.

Exchange Rates
Current Level: 0.9388
Resistance: 0.9570
Support: 0.9350
Last Week’s Range: 0.9380-0.9522

The Australian Dollar (AUD) looked gone for all money Thursday against the Canadian Dollar (CAD) but has recovered off the low of 0.9380 to regain 0.9445 levels. The December 7 high of 0.9580 and the bearish momentum through to yesterday shows the Aussie weakness this year. Not out of the woods just yet a lot of this movement has come with price fluctuations in Crude Oil prices- overnight we saw price drop 2.5% to 52.70 pushing the Aussie higher. Earlier in the week the RBA released their cash rate which stayed unchanged at 1.50%- we have seen no change now since July 5th 2016 after it was lowered from 1.75%. Markets saw the release and statement as less dovish than expected offering momentary relief for the Aussie. While they believe unemployment will gradually fall over the next year they acknowledged a downgrade to GDP growth over the next two years was likely siting global economic factors. Adding to the AUD concerns this week was a a speech yesterday by governor Lowe which surprised investors when his comments were rather more pessimistic than his official monetary statement Tuesday. We support the bearish move as above continuing for a while.

Exchange Rates
The current interbank midrate is: AUDCAD 0.9411
The interbank range this week has been: AUDCAD 0.9379- 0.9522

View AUDCAD chart

The Australian Dollar (AUD), Canadian Dollar (CAD) pair continues to trade in a 2019 range between 0.9450 and 0.9570 with price action at the bottom of this range currently around 0.9480. It’s a bid day for the Aussie with the RBA cash rate announcement, Trade balance and Retail Sales all to print. Risks are skewed for the CAD to come under pressure soon with risk assets looking vulnerable. Canadian employment figures Friday should be interesting, we suspect a retest of 0.9570 is likely before weakness develops.

Exchange Rates
Current Level: 0.9441
Resistance: 0.9570
Support: 0.9430
Last Weeks Range: 0.9434-0.9579

Aussie bank holiday Monday saw a slow opening in the Canadian Dollar (CAD), Australian Dollar (AUD) pair with prices chopping around the 0.9500 area. All eyes are on the Australian Dollar quarterly CPI figures printing today with markets expecting the result to be a little light on the 0.4% predicted. Even with positive employment data printing well last week price pressures are still skewed to the downside in the cross with the Aussie coming under increasingly worrying fundamentals. We think the pair will retest 0.9270 support.

Exchange Rates
Current Level: 0.9523
Resistance: 0.9570
Support: 0.9445
Last Weeks Range: 0.9446-0.9551

View AUDCAD chart

The AUD saw a sharp retreat on this cross and is now around 0.9468 reflecting better performance of the CAD against the USD as the AUD was sold down against the greenback overnight, a break of 0.9450 would see a run down to 0.9410

Exchange Rates

The current interbank midrate is:AUDCAD 0.9454
The interbank range this week has been:AUDCAD 0.9452- 0.9552

View AUDCAD chart

Early 2019 trading conditions in the Canadian Dollar (CAD), Australian Dollar (AUD) pair looks to continue sideways price action with a lack of real economic data. The CAD has come off the low of 0.9485 Monday after last week’s extension from 0.9570 after Crude Oil looked shaky above 53.50. Downside risks remain for the Aussie with Chinese growth expected to take further hits in 2019. Support at 0.9450 remains intact but if this is retested levels circa 0.9100 could eventuate.

Exchange Rates
Current Level: 0.9514
Resistance: 0.9580
Support: 0.9430
Last Weeks Range: 0.9495-0.9577

View AUDCAD chart

Price action in the Canadian Dollar CAD), Australian Dollar (AUD) this year has been stagnant pivoting in small moves around the 0.9550 area. Last week’s Bank of Canada rate release showed no change to the 1.75% siting global expansion remains moderate and the recent slowdown in economic activity was only temporary. Westpac Consumer Sentiment printed weak showing an overall general pessimistic view for 2019, this never really had an impact on moving price in the pair. A retest of 0.9600 is a reasonable probability with further slumps in Crude expected.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9546
The interbank range this week has been:AUDCAD 0.9495- 0.9577

View AUDCAD chart

The Australian Dollar (AUD), Canadian Dollar pair has traded within a 30 point range since Thursday consolidating around the 0.9550 area. Crude Oil volatility continues to dampen CAD spirits trading during the overnight sessions to 50.56 down over 2% on the day. Last week’s Bank of Canada rate release showed no change to the 1.75% siting global expansion remains moderate. Movement in the pair will be limited largely to CPI data releasing later in the week, for now we think price may extend back to the recent 0.9570 handle.

Exchange Rates
Current Level: 0.9562
Resistance: 0.9630
Support: 0.9450
Last Weeks Range:0.9456-0.9572

View AUDCAD chart

For most of December price action in the Australian Dollar (AUD), Canadian Dollar (CAD) pair has tracked around 0.9600 levels. With thin markets over the New Year period and a higher Crude Oil price the CAD saw some strength with price travelling to 0.9470. The flash crash of the 3rd of January saw price fall to 0.9200 but recover soon after to close around 0.9500. Economic data has been light, but we did see Canadian employment figures release up on expectation with the unemployment rate tracking from 5.7% to 5.6%. The Bank of Canada (BoC) is expected to raise the cash rate tomorrow from 1.75% to 2.00% but with lower oil prices and global inflation subdued they may wait for several months to gauge outlook. Given we think 1.75% is more favoured by markets we could see AUD push higher and retest 0.9700.

Exchange Rates
Current Level: 0.9476
Resistance: 0.9540
Support: 0.9430
Last Weeks Range:0.9203-0.9541

View AUDCAD chart

Price in the Canadian Dollar (CAD), Australian Dollar (AUD) pair has been pivoting around the 0.9640 level after briefly reaching 0.9760 earlier this week. Oil prices have dropped a further 4.2% overnight to 46.10 suggesting price should be well under 0.9540 the weekly open but since Aussie employment printed at 5.1% from the 5.0% expected we have seen price reasonably stable. Canadian Retail Sales and GDP release tomorrow morning and will need to be release well for price to stay above 0.9540 support.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9609
The interbank range this week has been:AUDCAD 0.9562- 0.9702

View AUDCAD chart

The Australian Dollar (AUD) retraced back to its weekly open last week of 0.9580 after risk aversion and poor Chinese data. The Canadian Dollar (CAD) depreciated again Monday on sliding crude oil prices once have again spoiling any CAD momentum, dropping a further 1.6% to hold just above 50.00 support, with price reaching 0.9630. A slew of key Canadian and NZ data will release this week starting with CAD CPI Thursday and NZ GDP followed by Canadian monthly GDP and Retail Sales Friday.

Exchange Rates
Current Level: 0.9627
Resistance: 0.9670
Support: 0.9570
Last week’s Range: 0.9572-0.9677

View AUDCAD chart

After the significant comeback in the Canadian Dollar (CAD) versus the Australian Dollar (AUD) last week down to 0.9560 the CAD lost its gains with the Aussie recovering back to 0.9670. Canadian Retail Sales and monthly GDP are both expected to print well based on recent economic performance which could see price move back to retest 0.9570 levels. Next week holds a huge week of economic data for the cross, expect plenty of volatility prior to Xmas.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9643
The interbank range this week has been:AUDCAD 0.9567 – 0.9674

View AUDCAD chart

It was a nice comeback last week by the Canadian Dollar (CAD) as it received multiple boosts against the Australian Dollar (AUD) closing the week at 0.9580 trading from 0.9770. CAD unemployment was lower at 5.6% from the 5.8% expected and the economy added 94,100 jobs to in November to the workforce significantly higher than the 10,500 expected. We have seen a slight reversal in price back towards 0.9640 during Monday’s overnight trading sessions as Crude Oil has again slumped 1.5% to 51.85 putting pressure on the CAD. We suggest a continuation of the bullish move from early October at 0.9180 should continue and regain the highs around 0.9750.

Exchange Rates
Current Level: 0.9648
Resistance: 0.9760
Support: 0.9540
Last Week’s Range: 0.9574-0.9777

View AUDCAD chart

Movement in the Australian Dollar (AUD), Canadian Dollar (CAD) has been a choppy mess this week with the pair initially pushing to 0.9770 and travelling to a low of 0.9650. Crude Oil continues to hurt any CAD momentum. Production numbers for 2018 are ending much higher than previously thought and outputs forecast for 2019 are likely to be revised upwards in the coming months which should in theory keep price at low levels. Aussie quarterly GDP printed much lower than markets were expecting at 0.3% based on predictions of 0.6% showing the Australian economy slowed sharply over the last quarter. The RBA has left the cash rate unchanged as widely expected siting a slowdown in global trade stemming from ongoing trade tensions, confirming the rate would remain at 1.50% for some time. Currently the pair trades around the 0.9670 area with our view of a strengthening AUD and a retest of the high of 0.9770 in the coming week.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9682
The interbank range this week has been:AUDCAD 0.9656- 0.9747

View AUDCAD chart

The Canadian Dollar (CAD) improved against the Australian Dollar (AUD) to 0.9700 Monday gaining 70 points on the open after Crude Oil prices improved off sub 50.00 levels to bounce back to 53.20. Production numbers for 2018 are ending much higher than previously thought and outputs forecast for 2019 are likely to be revised upwards in the coming months. The RBA cash rate announcement this afternoon is not likely to throw up any surprises with rats expected to remain at 1.50% for some time. The current price rally is nearing long term resistance of 0.9220, buyers should consider current  levels above 0.9100

Exchange Rates
Current Level: 0.9705
Resistance: 0.9760
Support: 0.9520
Last Week’s Range: 0.9579-0.9774

View AUDCAD chart

Crude oil recovered after dropping below 50.00 per barrel Friday, the Canadian Dollar (CAD), Australian Dollar (AUD) pair retracing lower off the high of 0.9750. Russian officials are signalling a strong likelihood of a production cut in sync with organisation of the Petroleum Exporting Countries. The Russians and Saudi are working together by agreeing on a fresh cut to production to prevent an over supply and prop up prices. Price action in the pair drifted back to 0.9690 on the news, but we still support further momentum through to 0.9850 over the coming days.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9723
The interbank range this week has been:AUDCAD 0.9556- 0.9747

View AUDCAD chart

It’s been a big week of volatility in the Australian Dollar (AUD) Canadian Dollar (CAD) pair with the price of Crude Oil turning heads. The price of oil is down over 30% since topping out in October at around 77.00 per barrel. Overnight the price dipped 1.4% to 53.90 increasing the vulnerability of the CAD as it continues to underperform. Reaching a high this week of 0.9660 against a low of 0.9550 the cross sits around 0.9570 currently as it looks to consolidate around these levels with Canadian CPI and retail Sales to print tonight.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9554
The interbank range this week has been:AUDCAD 0.9555- 0.9663

View AUDCAD chart

The Australian Dollar rallied to a high of 0.9650 leading into the weekly close versus the Canadian Dollar (CAD) but Mondays sell off in US equities and a risk averse market to blame the cross has drifted back to 0.9600. Crude Oil recovered off its low of 55.30 to trade at 57.37 Tuesday assisting the CAD recovery. Today’s RBA minutes will set the tone for the week at 1.30pm with Canadian monthly CPI and Retail Sales releasing Friday.

Exchange Rates
Current Level: 0.9606
Resistance: 0.9650
Support: 0.9480
Last week’s Range: 0.9488-0.9653

View AUDCAD chart

The Australian Dollar (AUD) has reached 0.9650 against the Canadian Dollar (CAD) Thursday after favourable Australian Employment figures printed well up on expectations. The official unemployment rate is down to 5.00% from 5.10% markets were expecting along with a sharp increase in the number of people employed in the month of October jumped to 32,800 after 20,000 was forecast. Crude oil is hovering around the 60.00 mark after a jump of 1.2% Thursday boosted the CAD as price travelled back to 0.9590.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9593
The interbank range this week has been:AUDCAD 0.9488 – 0.9647

View AUDCAD chart

The Australian Dollar (AUD) has come off its high of 0.9570 Friday easing back to 0.9505 in thin Monday trading. A sharp pullback in the price of Crude oil last week saw the CAD under pressure from the 0.9400 open, losing ground the fifth straight week in a row. This week’s Aussie Wage numbers and employment figures hold the main interest this week. As we said last week, we expected a reversal of sorts once Oil prices stabilised and risk sentiment deteriorates which looks to have started. 09470 holds support to the downside this week which looks vulnerable.

Exchange Rates
Current Level: 0.9485
Resistance: 0.9570
Support: 0.9470
Last Week’s Range: 0.9450-0.9568

View AUDCAD chart

The Canadian Dollar (CAD) couldn’t have had a worse week if it tried, trading against the Australian Dollar (AUD) at a three month low. Crude Oil prices reached an April 2018 low of just over 60.00 per barrel and the RBA were upbeat with future growth projections as they left the cash rate unchanged at 1.50%. The Aussie Dollar has continued its momentum from the low of 0.9100 of 3rd October to reach 0.9550. We are expecting a reversal soon once the CAD stabilises, Oil prices recover, and risk sentiment deteriorates.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9544
The interbank range this week has been:AUDCAD 0.9409 – 0.9566

View AUDCAD chart

Poloz put the Canadian Dollar (CAD) on the backfoot against the Australian Dollar (AUD) Monday, the pair pushing up from 0.9410 area early Monday to 0.9450. All interest will be on the RBA cash rate announcement today 4.30 NZT and should reflect recent economic data with no change expected. A retest of last weeks high of 0.9480 should come into the picture as long as the RBA is not to dovish in their monetary statement.

Exchange Rates
Current Level: 0.9460
Resistance: 0.9560
Support: 0.9360
Last Week’s Range: 0.9269-0.9478

View AUDCAD chart

The Australian Dollar has continued its reversal from the 4th October low of 0.9100 posting a new high of 0.9430 Friday against the Canadian Dollar (CAD). I can’t ever remember a currency which has struggled as much as the Canadian Dollar after a central bank rate rise. Aussie Trade Balance figures released Thursday sent buyers into a frenzy for the Aussie Dollar. The Figure released at a whopping 3.02 Billion surplus much higher than the 1.71 Billion markets were expecting sent the Aussie breaking its current range bound week. Today’s Retail Sales figures and next week’s RBA statement will be key to the pair maintaining current levels and not declining back into the long term bearish trend channel.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9431
The interbank range this week has been:AUDCAD 0.9211- 0.9444

View AUDCAD chart

The Canadian Dollar (CAD) has been unable to continue with its bull run late last week after the Bank of Canada (BoC) raised rates to 1.75%, instead the pair has bounced off the low of 0.9160 and pushed higher to 0.9310 during Monday’s trading sessions. The short rally higher should be met with resistance around current levels as the bearish tone from early June of 0.9930 resumes to the downside. Monthly GDP Thursday should show growth of 0.2% and Friday’s Canadian Employment figures will be keenly anticipated with unemployment expected to remain close to the current 5.9%. Watch for Aussie Retail Sales a key monthly release, volatility in the pair over the week will be high.

Exchange Rates
Current Level: 0.9271
Resistance: 0.9300
Support: 0.9170
Last Week’s Range: 0.9177-0.9310

View AUDCAD chart

As we suspected the Canadian Dollar (CAD) pushed higher versus the Australian Dollar (AUD) to 0.9180 after the BoC raised their benchmark interest rate. The Bank of Canada (BoC) raised the cash rate to 1.75% from 1.50% as anticipated making it the highest its been in almost a decade dating back to 2008. Stephen Poloz explained that part of the decision to raise rates was the optimism regarding Canada’s economy now that they had a free trade deal with the united States and Mexico negotiated a month ago which replaced the old NAFTA deal. Further softening in the Aussie Dollar looks inevitable unless next week’s Retail Sales and CPI figures can stop the rot with it currently sitting at a 6-year low.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9252
The interbank range this week has been:AUDCAD 0.9177 – 0.9361

View AUDCAD chart

Currently trading around the 0.9284 level the AUD has slid lower on this cross over the week and given the prospect of a BoC rate hike at next Wednesday’s meeting, a test of support at the 0.9225 level is likely into next week.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9271
The interbank range this week has been:AUDCAD 0.9225 – 0.9231

View AUDCAD chart

The Australian Dollar (AUD) has stabalised around the 0.9270 area against the Canadian Dollar (CAD) Tuesday after reaching 0.9315 levels during early trading sessions yesterday. A positive BoC Business Survey highlighted growth was looking solid with the indicator at record highs businesses are optimistic. Most companies expected upward costs arising from tariffs with a majority expecting inflation to be at the top of the BoC inflation range. Monthly CPI prints Friday with markets expecting a reading of -0.1%. We are expecting downward momentum over the week with a retest of 0.9200

Exchange Rates
Current Level:0.9262
Resistance: 0.9315
Support: 0.9100
Last Week’s Range: 0.9166 – 0.9317

View AUDCAD chart

The Australian Dollar (AUD) has regained last week’s losses against the Canadian Dollar (CAD) pushing up from the low and weekly open of 0.9130 fuelled by falls in Crude oil. Last week it was all about the rise of Crude to over 75.00 per barrel this week was the opposite with prices dropping to 70.59 and still weakening. Recent Aussie construction and housing figures along with business sentiment have not been enough to slow the currency down. The Aussie has some way to go to break free from the bearish downward channel from the high of 0.9945 mid this year but we could see a retest of 0.9350 next week.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9283
The interbank range this week has been:AUDCAD 0.9118- 0.9290

View AUDCAD chart

The Australian Dollar (AUD) continued its decline against the Canadian Dollar (CAD) sliding to 0.9120 with Canadian employment numbers boosting the CAD. September figures showed a rise in the number of people who entered the workforce at 63,000 with the unemployment rate remaining at 5.9%. The cross is currently trading at 0.9170 with a slight fall in Crude Oil prices taking the pair off its low. Canadian Holiday today expect volumes to be thin.

Exchange Rates
Current level: 0.9175
Resistance: 0.9470
Support: 0.9100
Last Week’s Range:0.9108-0.9262

View AUDCAD chart

The Canadian Dollar (CAD) is on top of the world this week after a trade deal with the US government has been reached. The AUD/CAD cross gapped lower on the weekly open after speculation a new NAFTA replacement deal was close to being negotiated. Once news broke and Trump made the official announcement, the pair travelled down to 0.9230. Crude oil prices have surged to over 75.00 per barrel the highest level since November 2014 with sanctions on Iran beginning to diminish the countries oil supplies while the new USMCA deal eased demand concerns.

Exchange Rates
Current level: 0.9256
Resistance: 0.9500
Support: 0.9200
Last Week’s Range:0.9228-0.9484

View AUDCAD chart

The Australian Dollar (AUD), Canadian Dollar (CAD) settled around the 0.9400 area for most of the week until the Fed release Thursday sent the pair sharply higher to 0.9490. With strong CPI figures this has heightened the chances of a Bank of Canada (BoC) rate hike next month from the current 1.5%. NAFTA continues to remain the main risk for the CAD with the end of September deadline approaching. The pair have a number of competing tensions at the moment with near-term outlook finely balanced. The pair trades around the 0.9400 midday Friday.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9399
The interbank range this week has been:AUDCAD 0.9372 – 0.9484

View AUDCAD chart

The AUD has softened on this cross as the stronger Canadian CPI figures and subsequent heightened potential for a BoC rate hike next month boosted the CAD which is now around 0.9396 after a high of 0.94196 yesterday..NAFTA continues to remain a risk for the CAD and we maintain our view of a move to the 0.9450/60 level for the AUD/CAD later this week.

Exchange Rates
Current Level: 0.9397
Resistance: 0.9520
Support: 0.9350
Last Week’s Range: 0.9346-0.9427

View AUDCAD chart

Overall a positive week for the AUD on this cross as NAFTA talks continue to dog the CAD…now sitting around 0.9400 the AUD looks well supported by the risk trade attraction and the firm base metal prices….look for a test of 0.9450/60 into next week if current conditions hold.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9397
The interbank range this week has been:AUDCAD 0.9317 – 0.9427

View AUDCAD chart

The Australian Dollar (AUD) closed the week at 0.9320 against the Canadian Dollar (CAD) pushing aside any bearish sentiment the pair would retest last week low of 0.9270 travelling to 0.9360 amid thin Monday trading sessions. Today’s RBA monetary minutes will be the key event of the week with the Canadian Retail Sales printing later in the week. Equities have all gone lower suggesting markets are preparing for negative headlines at some point with the Trump led trade negotiations. Topside momentum could be limited for now with a retest of 0.9315 on the cards.

Exchange Rates
Current Level: 0.9353
Resistance: 0.9400
Support: 0.9315
Last Week’s Range: 0.9272 – 0.9398

View AUDCAD chart

The Australian Dollar (AUD) was staring down the barrel of further heavy losses earlier in the week when if drifted to fresh lows of 0.9260 after kicking off at 0.9350 but Australian Employment data surprised to the upside bringing the Aussie back from the brink. Statistics showed the number of employed people rose an additional 44,000 from 16,500 expected rallying the Aussie back above 0.9350. Chinese data along with continued trade negotiations will continue to weigh on the Aussie until resolved and agreements are locked in which could take some time.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9334
The interbank range this week has been:AUDCAD 0.9272- 0.9448

View AUDCAD chart

The Australian Dollar (AUD) has lost further ground against the Canadian Dollar (CAD) closing the week out around 0.9380. Australian Trade Balance printed higher than markets predicted at 1.55B with Canadian [unemployment coming in lower at 6.0%. A rally in the Aussie never eventuated with a wider picture risk off sentiment gripping markets after any trade agreement with the US was not forthcoming and delayed until this week. Australian Unemployment prints Friday the release to watch with a stable 5.3% expected. Long term the pair trades just off the low of May 2016 – 0.9320, with further risk sentiment driving markets this week we could see this level broken.

Exchange Rates
Current Level: 0.9343
Resistance: 0.9550
Support: 0.9320
Last Week’s Range: 0.9350 – 0.9516

View AUDCAD chart

The Canadian Dollar (CAD) recovered off the high of 0.9520 Thursday against the Australian Dollar (AUD) after the (BoC) Bank of Canada left the OCR rate unchanged at 1.50%. The monetary statement highlighted further hikes to reach its inflation target of 2.0%. The CAD rallied back to 0.9440 with unemployment figures to release tonight to offer further support in the CAD if numbers print well. Certainly the bearish channel in place from the high of 0.9940 7 June is still very much in play.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9442
The interbank range this week has been:AUDCAD 0.9369- 0.9516

View AUDCAD chart

In a race to the bottom between the AUD and the CAD, the hands down winner has been the Australian dollar over recent weeks. That being said, the pair is now not far away from key support levels and it’s starting to look like the selling is a little overdone, at least for now. The AUDCAD cross reached a low of 0.9369 yesterday and that’s just above the May 2015 low of 0.9327. Our feeling is that it would take some very dovish releases this week to drive further AUD selling. With so much negativity already built into the Australian dollar, If the RBA release a largely neutral statement this afternoon, the AUD may well recover somewhat.

Exchange Rates
Current Level: 0.9439
Resistance: 0.9530
Support: 0.9370
Last Week’s Range: 0.9369 – 0.9528

View AUDCAD chart

The Australian Dollar (AUD), Canadian Dollar cross drifted lower over the week with weaker than expected Australian data publishing and optimism around a US, Canadian trade deal being negotiated. Australian Capital Expenditure and Building approvals both were significantly weaker than expected, expenditure printing -2.5% over 06% and building approvals also will down at -5.2% from -2.2% markets were forecasting. The Australian dollar (AUD) breaking previous lows at 0.9410 reaching 0.9400 where it found support. If a new trade agreement is reached today, we should see the pair go lower to test the May 2016 of 0.9320

Exchange Rates

The current interbank midrate is:AUDCAD 0.9432
The interbank range this week has been:AUDCAD 0.9407 – 0.9559

View AUDCAD chart

The Australian Dollar (AUD) Canadian Dollar (CAD) pair is trading a tad lower than its opening price of 0.9540 in risk on market conditions. A lack of economic data out this week will see the pair follow offshore developments – especially in NAFTA talks. President Trump and Mexico look like they have agreed on a trade deal overnight replacing NAFTA. Canada has watched on hoping they can also strike a trade deal in short time. Larry Kudlow the director of the US National Economic Council has said he is optimistic a deal can be done with Canada as well. Canadian monthly GDP releases Friday until then price action won’t go far from 0.9525 with Crude Oil prices steady around 69.00

Exchange Rates
Current Level: 0.9524
Resistance: 0.9610
support: 0.9470
Lsat Week’s Range: 0.9475 – 0.9612

View AUDCAD chart

The Australian Dollar (AUD) had the better of the Canadian Dollar (CAD until Wednesdays turnaround led by Aussie political woes, the Aussie giving up 1.5 cents from 0.9620 falling back to 0.9480. Crude oil prices are again above 68.00 per barrel after a shortfall of Crude Inventory pushed prices higher. Canadian Retail Sales showed a decrease in sales to -.02% from -.01% but didn’t have a detrimental reaction on CAD support. Over the weekend the (BoC) Bank of Canada Poloz speaks at the Jackson Hole Symposium.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9489
The interbank range this week has been:AUDCAD 0.9475 – 0.9612

View AUDCAD chart

As risk markets turned positive last week the Canadian Dollar (CAD) has fallen behind against the Australian Dollar (AUD) with markets bidding up the Aussie. Not even the huge 3% CPI headline was enough buoy the Loonie with geopolitical uncertainties taking the lead. The pair closed the week around 0.9550 after coming from 0.9420 earlier in the week and has continued through 0.9570 Tuesday. Today’s RBA minutes could shift price in the meeting today but the most significant data to publish this week for the pair is Thursdays Canadian Retail Sales.

Exchange Rates
Current Level: 0.9573
Resistance: 0.9700
Support: 0.9420
Last Week’s Range: 0.9419 – 0.9582

View AUDCAD chart

The Australian Dollar (AUD) resumed its decline through June 2016 levels to reach a low of 0.9415 against the Canadian Dollar (CAD). Australian Unemployment dropped to 5.30% taking the Aussie off the low to post 0.9560 Friday. Equities markets were all up Thursday in a shift towards risk on. Canadian Consumer Price Index is due tonight and should reflect a small increase of 0.1%

Exchange Rates

The current interbank midrate is:AUDCAD 0.9559
The interbank range this week has been:AUDCAD 0.9419- 0.9622

View AUDCAD chart

The Australian Dollar (AUD) declined to its lowest level of 0.9535 against the Canadian Dollar since May 2016 trading. Long term support was seen at 0.9550 but the CAD outperforming we have seen this key level broken. Canadian unemployment figures surprised to the upside with 54,000 people entering the workforce up on the 17,000 expected. The unemployment figure dropped to 5.8% from 5.9% as the CAD continued to rally. Markets will be watching this week’s Australian employment numbers Thursday. If the pair continues to weaken off we could see a retest of the May 2016 low of 0.9350.

Exchange Rates
Current Level: 0.9540
Resistance: 0.9700
Support: 0.9520
Last Week’s Range: 0.9530 – 0.9707

View AUDCAD chart

In thin early week trading due to bank holidays in both Canada and Australia we saw the Aussie reach 0.9700 before retracing lower. Crude oil Prices has boosted the CAD and sent the pair to sit just off the weekly open at 0.9620. The RBA left the benchmark cash rate unchanged at 1.50% for two years running on Tuesday at the August central Bank meeting with the monetary policy statement very neutral. The only caution was in Housing and wage growth. Friday’s Canadian Employment figures will be one to watch especially if we have buoyant Crude prices over the week we may retest the recent low of 0.9570.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9620
The interbank range this week has been:AUDCAD 0.9580 – 0.9707

View AUDCAD chart

Canadian and Australian Bank holidays Monday has seen the Aussie (AUD) and Loonie (CAD) cross move within a 20 point tight range. The AUD pushed off the low of 0.9580 Friday with better than expected Retail Sales narrowly avoiding drifting lower through long term support of 0.9550- the low of May 2016. The RBA will announce their Cash Rate today at 4.30pm NZT with more of the same rhetoric expected and 1.50% to remain intact. Friday’s Canadian Employment figures will be one to watch especially if we have buoyant Crude prices over the week we may retest lows.

Exchange Rates
Current Level: 0.9604
Resistance: 0.9810
Support: 0.9550
Last Week’s Range: 0.9580 – 0.9705

View AUDCAD chart

The Canadian Dollar (CAD) has continues its run higher against the Australian Dollar (AUD) after Crude Oil prices rebound higher. Trading currently at lows of 0.9580 this is where long term support lies going back to May 2016. The incredible decline of the Aussie Dollar with prices showing we were over 1.00 (parity) only four weeks earlier. From here we need to see a break higher, Australian Retail Sales today could hold the key. If further weakness eventuate the chart is showing thin air down to 0.9300.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9583
The interbank range this week has been:AUDCAD 0.9582- 0.9705

View AUDCAD chart

The Canadian Dollar (CAD) made solid progress last week over the weakened Australian Dollar (AUD) with the pair retesting 0.9630 of 18th May 2018 levels. Australian Trade Balance and Retail Sales holds interest this week for the Aussie with Trade Balance expected to publish a higher number than July 4th disappointing 0.83B. Canada also have Trade Balance figures publishing late Friday and will hoping also hoping for a positive number based on July 7 -2.8B. Key support around 0.9650 may not hold this week if we see further declines in the Aussie.

Exchange Rates
Current Level: 0.9652
Resistance:  0.9740
Support: 0.9620
Last Week’s Range: 0.9628 – 0.9777

View AUDCAD chart

Disappointing Australian quarterly CPI figures published this week have kept the Aussie on the back foot versus the Canadian Dollar (CAD) dropping to fresh 2 month lows of 0.9645. Risk products have dropped in value over the second half of the week with uncertainties unclear around a potential US bombing of Iran’s nuclear capabilities. The price of Crude oil has stabalised around 69.55 up slightly overnight Thursday. Next week on the economic docket sees Canadian GDP and Australian Retail Sales to shake things up. 0.9550 holds key support for the pair if we see further declines in AUD we could be retesting this by mid next week.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9643
The interbank range this week has been:AUDCAD 0.9640 – 0.9781

View AUDCAD chart

The Canadian Dollar (CAD) fall away sharply after the weekly open against the Australian Dollar (AUD) bouncing off its recent lower range of 0.9700 from 0.9750. Australian CPI Wednesday should give the pair further direction, we are expecting figures slightly better than the 0.5% expected which should put the cross back above 0.9770

Exchange Rates

Current Level: 0.9720

Resistance: 0.9780

Support: 0.9700

Last Week’s Range: 0.9704 – 0.9788

View AUDCAD chart

A high/low on this cross for the week of 0.9701-0.9793 all seen in one day, yesterday on release of the stronger than expected Aussie employment data…now back at 0.9750 and should now remain relatively stable at current levels as risks for each currency in this pair are back to being more evenly balanced….

Exchange Rates

The current interbank midrate is:AUDCAD 0.9747
The interbank range this week has been:AUDCAD 0.9705 – 0.9788

View AUDCAD chart

Is now trading around the 0.9735 level after last week’s move down to 0.9679 after the BoC rate hike…hard to pick direction on this cross as risks for each currency in this pair are relatively evenly balanced…look for the AUD/CAD to remain around current levels but solid Aussie data later this week may bring the AUD back on course to push over the 98.00 mark.

Exchange Rates
Current Level: 0.9735
Resistance: 0.9860
Support: 0.9680
Last Week’s Range: 0.9682 – 0.9813

View AUDCAD chart

After a sharp fall to 0.9679 after the BoC rate hike announcement the AUD/CAD is back around the 0.9755 level …no real trend as both currencies have risk overhangs, the Aussie in the form of weaker commodity prices and the CAD in risks around the NAFTA renegotiation…hard to pick any clear direction in this cross as there isn’t one currently, but on balance we favour the CAD given the weaker commodity price outlook….this afternoons China trade data may be a direction pointer.

Exchange Rates
The current interbank midrate is:AUDCAD 0.9746
The interbank range this week has been:AUDCAD 0.9682- 0.9813

View AUDCAD chart

The Canadian Dollar has continued its bearish tone from last week against the Australian Dollar (AUD) with it hovering around the 0.9800 area. We are weary of further Aussie weakness if we follow the June pattern of lower highs from 0.9920, representing a possible retest of 0.9660 could be the next move. Bank of Canada (BoC) will announce their cash rate at the end of the week with markets split on a hike to 1.50% from 1.25% based mainly on NAFTA risks with talks ongoing later this month. We will also get a look at the state of Canadian housing with the “new build” index publishing Friday.

Exchange Rates
Current Level: 0.9796
Resistance: 0.9870
Support: 0.9750
Last Week’s Range: 0.9662 – 0.9805

View AUDCAD chart

The Australian Dollar (AUD), Canadian Dollar (CAD) pair rejected 0.9650 early in the week bouncing higher with general CAD weakness. Crude Oil prices are still very high but have come off 75.50 to trade around 73.00 Friday. Donald Trump has hinted- rather ordered OPEC to reduce the oil price but every time he makes a statement, usually over twitter the price goes north. Trump’s efforts to punish Iran and make other countries boycott Iran Oil has only created higher demand with the price reaching its highest value since 2014. Long term support sits at 0.9600, Canadian unemployment figures print tonight.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9709
The interbank range this week has been:AUDCAD 0.9662 – 0.9790

View AUDCAD chart

The Australian Dollar made efforts to push higher late Friday against the Canadian Dollar (CAD) and was rejected at 0.9780 with buyers of CAD taking over based on positive monthly GDP figures. Closing the week at lows of 0.9730 it opened in a bearish mood falling to 0.9660 after Australian Building approvals printed lower than the 0.1% expected to -3.2%. The RBA kept rates on hold at 1.5% and said they would not be raising until well into 2019. Long term support sits at 0.9600 if data doesn’t represent positive news for the the Aussie Dollar this could be broken.

Exchange Rates
Current Level: 0.9718
Resistance: 0.9770
Support: 0.9650
Last Week’s Range: 0.9662- 0.9840

View AUDCAD chart

The Australian Dollar made no effort to push higher from last week high of 0.9930 against the Canadian Dollar (CAD) instead depreciating sharply to a four week low of 0.9740 where it currently trades. With a lack of local data on the Australian docket the Aussie has succumbed to other market forces in play. Bank of Canada’s Poloz spoke yesterday saying “we are in a situation where economy will warrant higher rates, we will ensure that is a gradual process”. He went onto say “the biggest risks we face are trade risks, investment decisions affected by trade tensions”. The oil price has surged overnight to 73.27 a barrel helping to push buyers into CAD across the board.

Exchange Rates
The current interbank midrate is:AUDCAD 0.9765
The interbank range this week has been:AUDCAD 0.9732- 0.9927

View AUDCAD chart

The Australian Dollar (AUD) gained on the Canadian Dollar (CAD) last week travelling from its open price of 0.9815 to close just above this level at 0.9870. At one point with weaker Canadian monthly CPI publishing the pair spiked to 0.9930 before easing back. This week we have no Australian local data but only Canadian monthly GDP figures to get excited about. Expectations are that we should see a solid number of 0.3% inflation on goods and services which is in line with May figures. Last month the positive number gave support to the CAD and we could see the same again with a possible retest of 0.9750.

Exchange Rates
Current Level: 0.9851
Resistance:0.9930
Support: 0.9730
Last Week’s Range: 0.9740 – 0.9927

View AUDCAD chart

The RBA minutes released Tuesday with Lowe suggesting the same rhetoric over the past few months that any rate hikes will be governed by higher wage growth. The Australian Dollar initially traded lower to 0.9740 before returning to 0.9830 versus the Canadian Dollar as a little risk returned into markets. Investors look towards Canadian monthly CPI figures tomorrow, we suspect further support in the Aussie may boost movement back to 0.9900. Click here for more AUD/CAD updates.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9825
The interbank range this week has been:AUDCAD 0.9740 – 0.9842

View AUDCAD chart

RBA monetary policy minutes are out today at 1.30pm NZT and should give us an insight into the direction we can expect this week in the Australian Dollar (AUD), Canadian Dollar (CAD) pair. We have seen support of 0.9780 hold previously in early June but we expect this to be broken and 0.9740 tested. This is the 50 Fibonacci level of the high of 0.9940 and the low of 0.9550. Later in the week we will see a bunch of Canadian Data releases including monthly CPI and Retail Sales.

Exchange Rates
Current Level: 0.9790
Resistance: 0.9930
Support: 0.9740
Last Week’s Range: 0.9774 – 0.9904

View AUDCAD chart

Australian Employment numbers showed a mixed bag with the number of employed people down on expectation but the Unemployment rate dropping to 5.4% from 5.5%. This bought the Aussie Dollar (AUD) off its low of 0.9780 against the Canadian Dollar (CAD) to 0.9835 before retracing lower. The Bullish momentum the Aussie Dollar has sustained since the low of 0.9550 in early May looks to have been broken slipping below key support of 0.9830 we now watch for confirmation of a move back to 0.9700. Buyers of CAD should consider these levels.

Exchange Rates
The current interbank midrate is:AUDCAD 0.9797
The interbank range this week has been:AUDCAD 0.9782- 0.9911

View AUDCAD chart

The Canadian Dollar (CAD) has suffered another weak of losses with the Australian Dollar (AUD) pushing to 0.9930 late last week. Risk was off the table early this week with the Aussie easing back to 0.9820. Prime Minister Justin Trudeau’s name is still mud with the media with the some saying his press conference at the end of the G7 was one of the biggest miss calculations by the Canadian leader in modern history engaging in bad faith diplomacy. Sounds like big brother beating up on little brother to me.

Exchange Rates
Current Level: 0.9867
Resistance: 0.9940
Support: 0.9820
Last Week’s Range: 0.9819 – 0.9934

View AUDCAD chart

The Australian Dollar (AUD) has settled around the 0.9900 level against the Canadian Dollar (CAD) since the start of June. Canadian Trade surplus has been the highlight of the week posting a result of -1.9B compared to economist’s predictions of -3.4B weakening the kiwi momentarily. After widening in April and May this is a positive result. Cancelling out any decent CAD support after this result was monthly building permits which printed well down on the expected -1.0% to -4.6% clearly showing a lack of new build construction activity. A head and shoulder pattern has emerged on the weekly chart showing upside momentum should continue to retest the previous high of 1.0270 mid-March.

Exchange Rates
The current interbank midrate is:AUDCAD 0.9889
The interbank range this week has been:AUDCAD 0.9760 – 0.9934

View AUDCAD chart

The Australian Dollar (AUD) pushed past resistance of 0.9660 over the week and continued its momentum through to 0.9800 against a struggling Canadian Dollar (CAD). The monetary policy meeting showed scope for rate hikes later in the year with improving growth boosting support for the CAD back to 0.9700, but overnight the Trump administration has announced they will be imposing steel tariffs on steel and aluminum imported from Canada, Mexico and the European Union sending the CAD to fresh lows. The tariffs will take effect from midnight next Thursday. This will put pressure on the Canadian Dollar for some time until NAFTA can be resolved. Close resistance is seen at 0.9880 but we pick a retest and possible break through this level.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9795
The interbank range this week has been:AUDCAD 0.9728 – 0.9838

View AUDCAD chart

After 11 weeks of losses the Australian Dollar has rebounded into positive territory. Trading Tuesday around 0.9800 levels we have seen the Canadian Dollar (CAD) weaken across the board on worse than predicted data and Crude Oil. Crude came off its high of 72.90 below key 70.00 support and looks shaky around the 67.00 handle.  The (BoC) Bank of Canada should keep rates unchanged at 1.25% Thursday with the target of 2% inflation slowly coming into play. NAFTA now looks like its for the moment dead in the water as an agreement won’t take place this year. Robert Lighthizer said recently talks were nowhere close to a deal. We are picking further support for the Australian Dollar (AUD) heading into US Non-Farm Payroll later in the week with a retest of 0.9850 a good probability.

Exchange Rates

Current Level: 0.9773

Resistance: 0.9830

Support: 0.9730

Last Week’s Range: 0.9682 – 0.9838

View AUDCAD chart

The Australian Dollar (AUD) has continued its move higher to 0.9760 against the Canadian Dollar in a week of very little economic data releases. Risk has been the main player determining movement as geopolitical issues have plagued the headlines over the week. RBA governor Lowe spoke Wednesdaynight and highlighted debt risks facing China since the GFC of 2008 and how they could impact on the Australian economy given the strong trading relationships the two countries have. An article published in a Chinese newspaper said -make Australia pay for its arrogant attitude by cutting the quantity of wine and beef imports. Negative reporting of China by Australian Media have recently strained relationships. A retest of 0.9840 looks to be on the cards as the Aussie recoups losses from April.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9759
The interbank range this week has been:AUDCAD 0.9616 – 0.9773

View AUDCAD chart

The Australian Dollar (AUD) has continued to retrace off its low of 0.9550 from two weeks ago against the Canadian Dollar (CAD) posting a new high of 0.9715 as a little risk returned to the markets Monday. This week will be fairly quiet with a lack of economic data in both Australia and Canada, only the RBA governor Lowe speaks Wednesday as a feeler for further direction.

Exchange Rates

Current Level: 0.9682

Resistance: 0.9840

Support: 0.9580

Last Week’s Range: 0.9589 – 0.9715

View AUDCAD chart

The Australian Dollar (AUD) traded lower off its initial push to 0.9660 down to 0.9580 in thin markets. With the oil price still over 71.00 this is assisting the CAD in spades. The pair largely traded in and around the 0.9600 areas as it awaits tomorrow’s Core CPI figures. Earlier we saw Canadian manufacturing sales print up on predictions of 1.1% coming in at 1.4%. This showed significant growth in 13 of 21 industries representing 73% of the total manufacturing sector. We suspect it could be a quiet end to the week unless geopolitical uncertainties come back into play.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9630

The interbank range this week has been:AUDCAD 0.9589- 0.9664

View AUDCAD chart

The Australian Dollar (AUD) pushed higher late last week against the rampant Canadian Dollar (CAD), after dropping to a Dec 17 low it traded back to 0.9630. Crude Oil prices have continued to stay high just off the 71.71 high creating value for investors to buy the CAD however Canadian employment figures were weak having a detrimental effect on CAD momentum. We see lower lows forming in the pair, buyers should look to current levels as we see further falls to 0.9550 possible.

Exchange Rates

Current Level: 0.9630

Resistance:  0.9700

Support: 0.9560

Last Week’s Range:  0.9558-0.9707

View AUDCAD chart

Crude oil the winner of the last few days dragged the Australian Dollar (AUD) into the abyss against the favoured Canadian Dollar (CAD) to massive fresh lows. We need to go all the way back to June 2016 levels to see the low of 0.9560. To make things worse, in normal trading conditions the Australian Dollar (AUD) should have been well bid in a market which saw positivity in the Aussie budget. We suspect prices around the current levels may not last and a possible retrace back to 0.9700 levels.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9603

The interbank range this week has been:AUDCAD 0.9558- 0.9707

View AUDCAD chart

The Canadian Dollar (CAD) opened the week in a buoyant mood pushing the Australian Dollar (AUD) down to 0.9650 regaining most of last weeks losses. Oil prices are softer Tuesday dropping back below 0.7000 to 69.87 per barrel helping to depreciate the CAD. The long-term trend from the high of 1.0220 in early March in still in play as we expect the cross to creep lower back through the low of 0.9620 in the medium term. Canadian Building approvals and Unemployment figures print towards the end of the week to offer further direction in the pair.

Exchange Rates

Current Level: 0.9671

Resistance: 0.9730

Support: 0.9600

Last Week’s Range: 0.9608 – 0.9706

View AUDCAD chart

The Australian Dollar (AUD) lost ground earlier in the week against a buoyant Canadian Dollar (CAD) after strong Crude Oil prices and solid GDP figures.  Monthly GDP was stronger than economists predicted releasing at 0.4% instead of 0.3% rallying the CAD to 0.9600. Aussie Trade Balance came in well up on expectation thereafter at 1.53B based on a 0.68M prediction thrusting the Aussie back to 0.9680 as it looks to retest the weekly open of 0.9720

Exchange Rates

The current interbank midrate is:AUDCAD 0.9695

The interbank range this week has been:AUDCAD 0.9608- 0.9739

View AUDCAD chart

The Australian Dollar (AUD) has fallen to a fresh low to 0.9660 against the Canadian Dollar (CAD) as the pair continues the bear move from the high of 1.0270 early March 2018. Strong support is at 0.9600 followed by thin air down to 0.9350 if the CAD retains momentum. The RBA statement later by governor Lowe should offer investors further direction along with trade balance figures later in the week.

Exchange Rates

Current Level: 0.9670

Resistance:1.0000

Support: 0.9620

Last Week’s Range: 0.9661 – 0.9774

View AUDCAD chart

With the stronger USD and a more cautious tone from the Bank of Canada Governor earlier in the week, the CAD remains under pressure on this cross having dropped from 0.9795 at the start of the week to 0.9708 overnight..now trading around 0.9723 bias is to the downside and we look for a test of 0.9700 next week.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9726

The interbank range this week has been:AUDCAD 0.9713 – 0.9799

View AUDCAD chart

The past week has seen choppy price action for this pair, but little overall direction. Both the Australian dollar (AUD) and the Canadian dollar (CAD) have seen periods of pressure and as such the cross rate has whipsawed back and forth. The volatility is far from over as well with key Australian data in the form of inflation set for release in the coming hours. Support is seen around 0.9720, while resistance comes in around 0.9850. Any break below 0.9720 would target 0.9600.

Exchange Rates

Current Level: 0.9765

Resistance: 0.9900

Support: 0.9720

Last Week’s Range: 82.44 – 83.94

View AUDCAD chart

The Australian Dollar (AUD) has bounced back late this week against an out of favour Canadian Dollar (CAD). Reversing early losses, the pair rose from the low of 0.9735 after dovish comments from the Bank of Canada (BoC) Poloz. The Bank of Canada (BoC) left rates unchanged as widely expected. The pair has broken above recent resistance of 0.9800 to post a fresh high of 0.9850. Canadian Retail Sales and CPI will be key Friday if the current bearish trend is to continue back below 0.9750

Exchange Rates

The current interbank midrate is:AUDCAD 0.9760

The interbank range this week has been:AUDCAD 0.9738- 0.9858

View AUDCAD chart

The Canadian Dollar (CAD) continued to make solid gains over the Australian Dollar (AUD) this week pushing past the previous low of 0.9770. With oil prices pushing into the 67.15 area the CAD has outperformed posting a fresh low of 0.9745. The Canadian House price index for February released worse than the expected 0.1% at -0.2% following two months of no change. Recent higher mortgage rates added to the decline.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9773

The interbank range this week has been:AUDCAD 0.9750 – 0.9829

View AUDCAD chart

The Canadian Dollar (CAD) lost its position of being the strongest currency with the Pound overtaking it early this week. The Australian Dollar (AUD) is still a no show and no match for the surging CAD, with the cross trading to multiple fresh lows, currently holding at 0.9770. Canadian building permits prints Wednesday and is expected to be down on previous numbers. This being the case we may see a spike in the cross back through 0.9850.

Exchange Rates

Current Level: 0.9807

Resistance: 0.9890

Support:0.9710

Last Week’s Range: 0.9771 – 0.9923

View AUDCAD chart

With the Canadian Dollar (CAD) holding the position of outperforming all other currencies and the Australian Dollar (AUD) having a woeful week, it’s no surprise we see further depreciation in the pair as it has slid down to 0.9800 . The US government has softened a key Nafta demand for more content in car manufacturing; this is arguably the biggest point of contention in discussions with the US pushing for 85% of all vehicle parts to be sources from the 3 Nafta countries with the current agreement requiring only 62.5%. The CAD appreciated on this news. This is the third straight week the Australian Dollar (AUD) has dipped in value against the CAD, earlier we mentioned it could test support at 0.9780,with Non-Farm Payroll approaching we may see a break below this week prior to the close.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9805

The interbank range this week has been:AUDCAD 0.9784- 0.9927

View AUDCAD chart

The Canadian Dollar (CAD) continued its charge against the Australian Dollar (AUD) pushing the pair down to a low of 0.9875 where it consolidated just north of this level for most of the week. This is the third straight week the Australian Dollar (AUD) has dipped in value against the CAD, this week looks no different as it may look to test key support around 0.9780. Today’s RBA cash rate announcement followed by the RBA statement will be important for stunting further downside.

Exchange Rates

Current Level: 0.9898

Resistance: 1.0000

Support:0.9870

Last Week’s Range: 0.9875 – 0.9939

View AUDCAD chart

The Canadian Dollar (CAD) has made up ground against the Australian Dollar (AUD) for the second week. Coming off its high of 1.0230 March 14th its trading at the key bullish chanel support of 0.9940 Tuesday, if it breaks lower we may see 0.9880 tested. Canadian monthly GDP prints Friday the only significant release out of Canada, offshore fundamentals will drive this pair with “Good Friday” holiday to close the week.

Exchange Rates

Current Level: 0.9945

Resistance: 1.0220

Support:0.9875

Last Week’s Range: 0.9912 – 1.0087

View AUDCAD chart

The Australian Dollar (AUD) has continued its run lower from last weeks high of 1.0230 dropping to a low of 0.9940 against the New Zealand Dollar (NZD) A host of good news for the Canadian Dollar this week including NAFTA negotiations and stronger oil prices has seen it move back through parity towards the key level of 0.9900. Monthly Canadian CPI and Retail Sales print tomorrow just prior to the weekly close, these will no doubt be crucial if the CAD is to maintain its current form and momentum across the board.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9950

The interbank range this week has been:AUDCAD 0.9939 – 1.0188

View AUDCAD chart

The Australian Dollar (AUD), Canadian Dollar (CAD) has come of its mid week high of 1.0230 to trade at 1.0008 Tuesday in a move which has bought the CAD back closer to parity.  With close ties to China and President Trump saying he would like to increase tariffs against China this had a detrimental effect on the cross. Until tariff negotiations are finalised we may see further Australian Dollar (AUD) weakness. Look for volatility Thursday with a huge amount of economic data to publish.

Exchange Rates

Current level: 1.0075

Resistance: 1.0210

Support:1.0000

Last Week’s Range: 1.0069 – 1.0242

View AUDCAD chart

The Australian Dollar (AUD) continues to build on earlier rallies pushing as high as 1.0230 this week against the struggling Canadian Dollar (CAD). Settling around the 1.0170 area it remains under pressure having lost ground against the Aussie for the 6th straight week from the low of 0.9820. Foreign Securities Purchases prints late Friday which will give a reliable reading on recent domestic currency demand. CPI is released late next week before Australian unemployment figures- expect the currency pair to be volatile with further trade talks key.

Exchange Rates

The current interbank midrate is:AUDCAD 1.0160

The interbank range this week has been:AUDCAD 1.0020- 1.0242

View AUDCAD chart

The Canadian Dollar (CAD) has traded lower against the Australian Dollar (AUD) over the week, the Aussie (AUD) the beneficiary of choppy price action amid a risk on market and intl trade talks involving tariffs and NAFTA weigh on the CAD. The AUD has opened strong Monday pushing up to 1.0110 from 1.0050 and looks to break prior resistance of 1.0135 last week’s high. Its thin air through to 1.0350 with the BOC governor Poloz speaking Wednesday morning styled “today’s labour market and the future of work”. NAFTA talks continue to strain the Canadian Dollar, it may continue to weaken in the near term until trade negotiations are finalised.

Exchange Rates

Current Level: 1.0120

Resistance: 1.0200

Support:1.0030

Last Week’s Range: 1.0020 – 1.0130

View AUDCAD chart

The Canadian Dollar (CAD) has traded lower over the week against the Australian Dollar (AUD), market makers sold the CAD after worse than expected Canadian Employment printed. As we have commented in the last few commentaries the Canadian Dollar remains soft due to weakening economic stance and Tariff woes. Trump made comment Canada would possibly be exempt from further trade Tariffs with Canada’s steel industry being the backbone of the Canadian economy. NAFTA is still being negotiated increasing strains on the Canadian Dollar as the pair trade well above parity and looking fairly happy.

Exchange Rates

The current interbank midrate is:AUDCAD 1.0035

The interbank range this week has been:AUDCAD 0.9949- 1.0051

View AUDCAD chart

Australian Current fourth quarter Trade Balance published weaker than expected coming in at -14B after -12.3B was expected bringing back the AUD/CAD off its high.  As we spoke about in earlier commentary trading above parity was largely expected, watching now the RBA release later today for further upside. Oil prices still Remain vital for the lagging Canadian Dollar, overnight prices dropped to a weekly low of 62.45.

Exchange Rates

Current Level: 1.0010

Resistance:1.0200

Support:1.000

Lsat Week’s Range:0.9914 – 1.0086

View AUDCAD chart

Oil prices continue to play a major part in the Canadian Dollar fortunes. Crude dropped to a weekly low of 62.45 Thursday over 2% with a rise in oil inventories squeezing price down to a weekly low. The Australian Dollar (AUD) remains bullish against the struggling CAD rallying to a 0.9993 a 4 week high and stopping short just shy of parity, it may not be long before we see a break past 1.000 if oil prices continue to slow and the Bank of Canada (BOC) continue their hawkish stance.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9960

The interbank range this week has been:AUDCAD 0.9874- 0.9990

View AUDCAD chart

Higher Oil prices have once again given much needed support to the Canadian Dollar (CAD) the CAD pushing back on recent Australian Dollar movement late in the week as it looks to break the recent trend line lower to 0.9870 The bullish long-term support over the Australian Dollar may see it rise back to parity before long if oil values are not supported above recent levels above 64.00.

Exchange Rates

Current Level:0.9960

Resistance: 1.0000

Support:0.9900

Last Week’s Range:0.9874 – 0.9987

View AUDCAD chart

The Australian Dollar (AUD) made further ground over the Canadian Dollar (CAD) trading to a new high of 0.9990 surpassing the previous high of 0.9950 in heavy volume trading. As Australian wage growth came in stronger than expected this supported the widespread thinking of interest rates being hiked much sooner than anticipated. Markets expected 0.5% over the prior quarter but were surprised by 0.6%. Canadian Dollar (CAD) has made a late comeback Thursday pushing the pair back to below 0.9900 as buyers bought CAD. I would imagine he bullish trend from early February may continue to perhaps parity.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9960

The interbank range this week has been:AUDCAD 0.9893- 0.9987

View AUDCAD chart

The Australian Dollar rose against the Canadian Dollar, starting the week at 0.9830 it rallied through to a high of 0.9950 where it currently sits just shy of Tuesday. Crude Oil is up again to 62.20 but has failed to make an impact yet on the Canadian Dollar, perhaps the US Holiday volatility a factor, this current bullish NZD trend looks well established.

Exchange Rates

Current Level: 0.9940

Resistance:1.0000

Support: 0.9920

Last Week’s Range: 0.9834 – 0.9951

View AUDCAD chart

The Canadian dollar rose sharply Thursday after posting a fresh February high of 0.9950 after a volatile few days in the markets. Parity levels are still in sight as the Australian Dollar gathers steam in a risk on market.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9912

The interbank range this week has been:AUDCAD 0.9822 – 0.9932

View AUDCAD chart

The Canadian dollar (CAD) made gains against the Australian dollar (AUD) but the Canadian Dollar recovered well to end the week square at 0.9820. Tuesday’s support for AUD has been evident as it stages a comeback towards late January parity levels.

Exchange Rates

Current Level: 0.9887

Support: 0.9810

Resistance: 1.0000

Last Week’s Range: 0.9805 – 0.9897

View AUDCAD chart

The Canadian Dollar strength, Australian Dollar weakness continues through 0.9800. This is short term support as the AUD/CAD pair looks to have an appetite to push through this as it surges towards the previous low of 0.9700 January 10. There has not been mush upside for the AUD since 19th January 2017.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9808

The interbank range this week has been:AUDCAD 0.9805 – 0.9903

View AUDCAD chart

The AUD continues to track lower on this cross, now at 0.9835 after a high of 0.9922 last Thursday. Canadian GDP figures were mildly supportive of the CAD and there are high hopes that Friday’s Canadian jobs report will also be another good one. NAFTA issues still loom as a potential risk for the CAD but at the moment we look for further CAD support against the AUD on this cross.

Exchange Rates

Current Level: 0.9836

Support:  0.9800

Resistance: 0.9900

Last Week’s Range: 0.9824 – 1.0005

View AUDCAD chart

The AUD dropped to 0.9894 yesterday on the lower than expected Aussie CPI, now at 0.9904 and should consolidate at current levels ahead of the Canadian GDP figures tomorrow. NAFTA concerns will hold any large appreciation of the CAD on this cross and next week’s RBA meeting may see the AYD retest the 1.000 resistance level.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9908

The interbank range this week has been:AUDCAD 0.9902 – 1.0005

View AUDCAD chart

Choppy trading with an upward bias for the AUD on this AUD/CAD cross. Now at 0.9988 and we expect trading to hold at current levels until tomorrows Aussie CPI can provide direction. AUD is favoured but attention will need to be paid to Fridays Canadian GDP data.

Exchange Rates

Current Level:  0.9987

Support: 0.9850

Resistance: .1.0000

Last Week’s Range: 0.9917 – 1.0005

View AUDCAD chart

After a high for the week at 0.9993 the AUD has slipped on this cross to a low of 0.9911. Now back around 0.9940 is in “no-man’s-land” ahead of the Aussie CPI and NAFTA announcements both of which would have significant impact on this AUD/CAD cross. Little change from current levels expected until early next week.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9932

The interbank range this week has been:AUDCAD 0.9917 – 1.0002

View AUDCAD chart

The CAD has slipped a little on this AUD/CAD cross as NAFTA concerns have heightened. Now at 0.9970 both currencies enjoy support from solid commodity prices. Given the potential for a NAFTA surprise, the AUD is favoured on this cross. Look for a move back over 1.000 over the next few days.

Exchange Rates

Current Level: 0.9972

Support: 0.9730

Resistance: 0.9925

Last Week’s Range: 0.9859 – 1.0002

View AUDCAD chart

The AUD has slipped on this cross from a high of 0.9982 to now trade at 0.9948 with the CAD gaining strength from the BoC rate hike on Wednesday. NAFTA talks have the potential to knock the CAD but at the moment the CAD looks able to extend gains, with the AUD likely to test support at 0.9895 over the next week.

Exchange Rates

The current interbank midrate is: AUDCAD 0.9948

The interbank range this week has been: AUDCAD 0.9846 – 0.9976

View AUDCAD chart

The AUD continues to hold gains built on this cross last week, currently sitting at 0.9903. Potential exists for the AUD to break resistance at 0.9925 and push towards the 1.000 level especially if Thursday’s Aussie jobs data is good. However the BoC meeting on tomorrow does provide event risk on this cross, especially given expectations for a Canadian rate hike

Exchange Rates

Current Level: 0.9904

Support: 0.9730

Resistance: o.9925

Last Week’s Range: 0.9721 – 0.9907

View AUDCAD chart

Some solid gains for the AUD against the CAD this week in spite of good Canadian data. It opened the week around 0.9758 and is now up at 0.9875 with AUD values helped by the reports of the US withdrawal from the NZFTA trade agreement and the better Australian retail sales data. If Australian employment figures are good next week look for a break of 0.9925.

Exchange Rates

The current interbank midrate is:AUDCAD 0.9874

The interbank range this week has been:AUDCAD 0.9714 – 0.9902

View AUDCAD chart

The AUD/CAD levels have seen choppy trading, but given the stronger Canadian data of late the AUD has been on the backfoot…last Friday’s Canadian jobs data saw the AUD fall sharply on the CAD dropping to a low of 0.9708, the AUD is now back at 0.9745 but the AUD downside is favoured on this cross and we look for another test of the 0.9700 level.

Exchange Rates

Current Level: 0.9749

Support: 0.9635

Resistance: 0.9885

Last Week’s Range: 0.9713 – 0.9851

View AUDCAD chart

The AUD has held onto and built on the gains made in the last week against the CAD. Now at 0.9860 and we expect 0.9880 to be reached over the next few days, before lighter holiday trading takes effect.

Exchange Rates

Current Level: 0.9859

Support: 0.9635

Resistance: 0.9885

Last Week’s Range: 0.9668 – 0.9876

View AUDCAD chart

The AUD has surged higher against the CAD over the week, is now around 0.9817 after a high of 0.8956 late yesterday after the Aussie jobs data. Price action looks to confirm a breakout and we look for a push to 0.9880 levels out into next week, especially if Australian data remains supportive.

Exchange Rates

The current interbank midrate is: AUDCAD 0.9803

The interbank range this week has been: AUDCAD 0.9643 – 0.9859

View AUDCAD chart

Positive Canadian data late last week helped to boost the Canadian dollar (CAD) somewhat, but gains against the Australian dollar (AUD) only proved temporary. After trading to a low of 0.9582 the pair quickly recovered back toward the 0.9670 level where it currently trades. We expect little overall direction ahead of the key events this week. Those are the US Fed decision on Thursday morning and Australian employment data out later that afternoon.

Exchange Rates

Current Level: 0.9675

Support: 0.9600

Resistance: 0.9780

Last week’s range: 0.9582 – 0.9695

View AUDCAD chart

Currently sitting around 0.9690 with CAD giving way to the stronger AUD over the week…no clear direction and should remain at current levels to start next week….look for a test of 0.9730.

Exchange Rates

The current interbank midrate is: AUDCAD 0.9698

The interbank range this week has been: AUDCAD 0.9612-0.9712

View AUDCAD chart

Now at 0.9660 up from Friday’s 0.9609 low, CPI data for Canada was as expected…with further BoC rate hikes likely on hold until next year, economic fundamentals should prevail, any improvement in Aussie data may test 0.9730 but longer term CAD is the favoured side of this AUD/CAD cross.

Exchange Rates

Current Level: 0.9655

Support: 0.9635

Resistance: 0.9800

Last week’s range: 0.9612 – 0.9732

View AUDCAD chart

AUD/CAD news this week shows that after a low of 0.9636 earlier in the week this cross is now back around 0.9670 , CAD has been supported by better economic data and firm crude oil prices….tonight’s Canadian CPI figures may also give CAD another boost…immediate support is at 0.9636, upside at 0.9730 unlikely to be seen over the next few days…

Exchange Rates

The current interbank midrate is: AUDCAD 0.9666

The interbank range this week has been: AUDCAD 0.9640 – 0.9748

View AUDCAD chart

Still all about the CAD on this cross , now at 0.9718 after a low of 0.9686 on the day…CAD remains well supported on this cross and we look for a test of 0.9670/80 level for the AUD in the next day or so.

Exchange Rates

Current Level Support Resistance Last week’s range
AUD/CAD 0.9720 0.9670 0.9905 1.0218 – 1.0316

View AUDCAD chart

Down at 0.9766 after good Canadian jobs figures on Friday and stronger crude oil prices strengthened the CAD….immediate support is at 0.9740 which should hold in the short term..then 0.9700….continued strong oil prices will pressure the AUD on this cross.

Current Level Support Resistance Last week’s range
AUD/CAD 0.9772 0.9670 0.9905 0.9751 – 0.9916

View AUDCAD chart

Currently sitting around 0.9847, down from a 0.9912 yesterday but still in a broad 0.9750-0.9914 range that has been evident for the last 4 weeks, good Canadian jobs figures tonight will pressure the AUD but initial support at 0.9830 should hold in the short term a break would target 0.9812.

The current interbank midrate is: AUDCAD 0.9845

 

The interbank range this week has been: AUDCAD 0.9817 – 0.9916

View AUDCAD chart

Now at 0.9856 the AUD has ground higher from the 0.9812 low seen at the close of last week, immediate resistance is at 0.9880 and if no surprises from tonight’s Canadian data releases look for this level to be tested over the next 2 days.

Current Level Support Resistance Last week’s range
AUD/CAD 0.9852 0.9670 0.9905 0.9766 – 0.9879

View AUDCAD chart

The AUD opens marginally stronger on this cross for the week at 0.9768 as CAD is harder hit by USD strength, no clear direction and should stay in a 0.9727-0.9820 range over the next few days.

Current Level Support Resistance Last week’s range
AUD/CAD 0.9795 0.9670 0.9905 0.9701 – 0.9818

View AUDCAD chart

Choppy trading on this cross over the week, the AUD is now at 0.9758 up from a 0.9697 low for the week after the BoC Governor’s comments…the AUD looks to still be struggling on this cross, look for a push back to the 0.9710/20 level early next week.

Exchange Rates:

The current interbank midrate is:    AUDCAD 0.9755

The interbank range this week has been:    AUDCAD 0.9701 – 0.9839

View AUDCAD chart

This cross was up at 0.9906 on Wednesday, but yesterday’s price action saw the AUD knocked down to 0.9767…is now even lower at 0.9755 and given the potential for some solid CAD economic data tonight the downside remains favoured on this cross.

The current interbank midrate is:    AUDCAD 0.9761

The interbank range this week has been:    AUDCAD 0.9723 – 0.9908

View AUDCAD chart

After a high of 0.9786 to start the week the AUD is now at 0.9735 , CAD looks dominant on this cross as speculation continues over further BoC rate hikes…bias is to the downside and we look for a test of the 0.9700 level early next week.

The current interbank midrate is:    AUDCAD 0.9735

The interbank range this week has been:    AUDCAD 0.9695 – 0.9816

View AUDCAD chart

The AUD has retreated on this cross and is now back at 0.9695 after the better Canadian employment data on Friday, the softer oil price has not helped the CAD but look for a 0.9680-0.9765 range over the next couple of days…..

Current Level Support Resistance Last week’s range
AUD/CAD 0.9702 0.9670 0.9835 0.9695 – 0.9927

View AUDCAD chart

After a drop on this cross to 0.9676 after the BoC rate hike , the AUD is now back at 0.9764 and we expect consolidation at current levels as more Canadian data next week is digested.

The current interbank midrate is:    AUDCAD 0.9767

The interbank range this week has been:    AUDCAD 0.9713 – 0.9927

View AUDCAD chart

The AUD continues to slid on this cross as the Cad powers ahead on better data , now at 0.9866 , good AUD data this week may hold AUD above 0.9835 but BoC meeting on Wednesday provides event risk…

Current Level Support Resistance Last week’s range
AUD/CAD 0.9870 0.9835 0.9950 0.9848 – 1.0001

View AUDCAD chart

Like the NZD the AUD has been knocked around by the loonie…now down at 0.9905 after a 1.0001 high at the start of the week …look for an extension into the 0.9880/90  region next week.
The current interbank midrate is:    AUDCAD 0.9900

The interbank range this week has been:    AUDCAD 0.9879 – 1.0000

View AUDCAD chart

The AUD is now trading around 0.9910 after a 0.9962 week high yesterday ….given the change in risk allied with improving CAD data we look for a test of support of 0.9860 later in the week.

Current Level Support Resistance Last week’s range
AUD/CAD 0.9911 0.9860 0.9950 0.9872 – 0.9975

View AUDCAD chart

The AUD has weakened against the CAD , now down at 0.9880 with immediate support at 0.9860 , should hold above this level to go into next week but data releases still favour the CAD..a retreat to 0.9780 is possible over the next week.
The current interbank midrate is:    AUDCAD 0.9880

The interbank range this week has been:    AUDCAD 0.9872 – 1.0027

View AUDCAD chart

The AUD is marginally down on the CAD at 0.9975 but still within the old 1.0041-0.9970 range, direction remains unclear but better data favour the CAD, a drift to 0.9950 support level looks likely in the short term.

Current Level Support Resistance Last week’s range
AUD/CAD 0.9967 0.9950 1.0083 0.9965 – 1.0050

View AUDCAD chart

Continues to trade the old 1.0041-0.9970 range seen for nearly two weeks…now at 0.9997…CAD data has been softer but this has been countered by the risk-off AUD selling…expect range trading to continue into next week pending some clearer direction.
The current interbank midrate is:    AUDCAD 0.9999

The interbank range this week has been:    AUDCAD 0.9964 – 1.0037

View AUDCAD chart

The AUD has had choppy trading on this cross, now at 1.0026 after a 1.0071-0.9970 range over the week…expect consolidation at current levels for the next few days into next week.
The current interbank midrate is:    AUDCAD 1.0020

The interbank range this week has been:    AUDCAD 0.9975 – 1.0068

View AUDCAD chart

The AUD continues to range trade in a narrower 1.0041-0.9970 range , now at 1.0010 stronger CAD fundamentals are supportive, look for test of 0.9950 later this week.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0016 0.9950 1.0085 0.9975 – 1.0068

View AUDCAD chart

The AUD continues to hold firm against the CAD and is currently at 1.0026 with 1.0080 firmly in its sights for later this week.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0026 0.9950 1.0083 0.9935 – 1.0048

View AUDCAD chart

Has traded in a tight 1.004-0.9932 sideways range all week, now at 1.0003 …we still favour a break to the upside over 1.0050 early next week…a weaker Canadian jobs report tonight would target a move onwards to 1.0080.
The current interbank midrate is:    AUDCAD 1.0005

The interbank range this week has been:    AUDCAD 0.9925 – 1.0048

View AUDCAD chart

The Australian dollar lost ground to the Canadian dollar in the first half of the week, making a low of 0.9862 in the wake of Wednesday’s soft Australian inflation data. Since then however, and driven by broad based USD weakness, the AUD has outperformed the CAD driving the cross rate back up over parity. While the focus remains on the topside, resistance at 1.0050 should cap any further gains in the near term.
The current interbank midrate is:    AUDCAD 1.0007

The interbank range this week has been:    AUDCAD 0.9862 – 1.0021

View AUDCAD chart

The Australian dollar traded to highs of 1.0056 against the Canadian dollar last week, but decent Canadian economic data on Friday night helped the CAD recover some of the lost ground. Wholesale Trade Sales came in much stronger than forecast and that caused the pair decline back to support around 0.9900. Direction over the rest of this week will likely be driven by tomorrow’s release of Australian inflation data. The market is looking for a gain of 0.4% for the quarter and a stronger result than that could easily see the AUDCAD back up over parity. If inflation data disappoints, the market may well set its sights on key support around 0.9750.

Current Level Support Resistance Last week’s range
AUD/CAD 0.9912 0.9750 1.0050 87.50 – 89.28

View AUDCAD chart

The Australian dollar leapt higher against the CAD on Tuesday afternoon, boosted by upbeat minutes from the RBA. Since then however the pair has drifted sideways around the 1.0010 level with a lack of overall direction. There is support at 0.9950 on the downside, while initial topside resistance comes in around 1.0060. Those two levels may well contain trade as we head into next week. Tonight’s Canadian data, in the form of inflation and retail sales, will draw attention and may well dictate near term direction.
The current interbank midrate is:    AUDCAD 1.0008

The interbank range this week has been:    AUDCAD 0.9845 – 1.0056

View AUDCAD chart

We have seen some volatile price action this week as both the Australian and Canadian dollar have seen periods of relative outperformance. Ultimately the Australian dollar has prevailed and the pair has managed a decent bounce from the lows of 0.9735 set immediately after the Bank of Canada rate hike last Wednesday. The pair currently trades around 0.9900 and the immediate focus is now of the RBA minutes set for release early this afternoon.

Current Level Support Resistance Last week’s range
AUD/CAD 0.9886 0.9750 0.9960 0.9744 – 0.9953

View AUDCAD chart

The Canadian dollar has been a strong performer over the past couple of weeks, buoyed by increasing expectation of an interest rate hike from Bank of Canada (BOC) this week. Friday’s strong Canadian employment numbers have only added to this expectation and they helped to push the AUDCAD cross down to is 0.9771 low. Further loses from here may be harder to come by as much of the expected interest rate hike is now priced in. Key to direction going forward will be the outlook from the BOC in terms of potential future rate hikes.

Current Level Support Resistance Last week’s range
AUD/CAD 0.9807 0.9750 0.9960 0.9772 – 0.9978

View AUDCAD chart

The AUD was knocked lower on Tuesday from 0.9978 to a 6 month low of 0.9795 yesterday after the oil price uptick helped the CAD…a rebound to 1.0100 looks a bridge-to-far next week.
The current interbank midrate is:    AUDCAD 0.9849

The interbank range this week has been:    AUDCAD 0.9799 – 1.0003

View AUDCAD chart

Maintaining a narrow range the AUD is now around 0.9975 , the better data has helped the AUD maintain its value in the face of a stronger CAD on BoC rate hike rumours , we still look for a push back over 1.0100.

Current Level Support Resistance Last week’s range
AUD/CAD 0.9970 0.9950 1.0150 0.9923 – 1.0085

View AUDCAD chart

The AUD is higher at 0.9990 after low of 0.9920 for the week but the range has been small, given the stronger AUD sentiment we still look for an advance to the 1.0100 level next week.
The current interbank midrate is:    AUDCAD 0.9988

The interbank range this week has been:    AUDCAD 0.9923 – 1.0085

View AUDCAD chart

Still choppy having been at 0.9962 low last week and now back at 1.0062..with the oil price now in bear market territory, AUD upside is favoured with a move to 1.0100 fancied in the next 4-5 days.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0060 0.9950 1.0150 0.9966 – 1.0099

View AUDCAD chart

Choppy trading continues on this cross, now around 1.0031 after a 1.0104 last week, the AUD should come back on the CAD as the oil price remains under pressure (CAD depressive)  and the iron ore price seems to have found a bottom (AUD supportive) …look for a move back to 1.0100+ over the next few days.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0036 1.0075 1.0150 0.9961 – 1.0105

View AUDCAD chart

Currently at 1.006 after a volatile week that has seen 1.0145 highs and lows of 0.9958….we favour the AUD given the better data emerging and the continued low oil price pressurising the CAD… look for a move to test immediate resistance at 1.0100 next week…
The current interbank midrate is:    AUDCAD 1.0061

The interbank range this week has been:    AUDCAD 0.9961 – 1.0196

View AUDCAD chart

The AUD has slipped on this cross, now down to 1.0043 as rate hike speculation has driven the Canadian dollar higher along with higher oil prices. We still favour the AUD on this cross and look for a move back to the 1.0100+ levels over the next few days.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0041 0.9950 1.0150 1.0036 – 1.0211

View AUDCAD chart

The AUD has made up some ground against the CAD on the weaker crude oil price, now around 1.0060 but given today’s RBA and tomorrow’s Aussie GDP this will take the pressure off the CAD …the CAD is favoured over the AUD , look for a move to test the 0.9950 level over the next day or so.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0055 0.9925 1.0072 0.9950 – 1.0103

View AUDCAD chart

The AUD continues to weaken against the CAD, now at 0.9977 , support is around 0.9925 which is likely to be probed next week .
The current interbank midrate is:    AUDCAD 0.9980

The interbank range this week has been:    AUDCAD 0.9950 – 1.0063

View AUDCAD chart

The AUD is at 1.0002 continuing a decline from 1.0072 seen early last week, initial support is at 0.9970 , but the US data this week if good, will pressure the CAD and we may see some retracement in this cross …look for a move back towards 1.0050 and above later in the week.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0004 0.9970 1.0072 0.9995 – 1.0122

View AUDCAD chart

The AUD has trended higher against the CAD over the last few days, now at 1.0100 with next stop at 1.0132 we still hold with our view that later in the week will see a move back to the 1.0150 level….

Current Level Support Resistance Last week’s range
AUD/CAD 1.0100 1.0010 1.0150 1.0059 – 1.0164

View AUDCAD chart

Lower from weeks high of 1.0163 to currently at 1.0100…next major support is at 1.0010 but the AUD should hold 1.0065 lows to end week …the AUD is still in a broad uptrend pattern against the CAD and a grind back to the 1.0150 +  level looks on the cards next week.
The current interbank midrate is:    AUDCAD 1.0099

The interbank range this week has been:    AUDCAD 0.9839 – 0.9933

View AUDCAD chart

Now at 1.0098 and a breakdown of this level would initially extend to the 1.0046 level, better oil prices will help the CAD on this cross, a move towards 1.0010 is now  favoured.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0092 1.0000 1.0200 1.0034 – 1.0156

View AUDCAD chart

Back around 1.0100 after a low at 1.0010 earlier this week..the AUD is favoured on this cross but better AUD fundamentals are required for a  push back 1.01300 level.
The current interbank midrate is:    AUDCAD 1.0100

The interbank range this week has been:    AUDCAD 1.0034 – 1.0198

View AUDCAD chart

The AUD has fallen against the CAD from highs around 1.0344 last week to its current level of 1.0075. Given the softer CAD fundamentals and weaker oil prices the AUD should hold around current levels against the CAD over the next few days.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0074 0.9950 0.9863 1.0076 – 1.0345

View AUDCAD chart

Declined from 1.0343 to 1.0131 over the week, is now at 1.0178 but we expect further declines next week to the 1.0050 level, given continuing disappointing AUD news.
The current interbank midrate is:    AUDCAD 1.0176

The interbank range this week has been:    AUDCAD 1.0136 – 1.0346

View AUDCAD chart

The AUD has held well against the CAD over the week moving higher from 1.0116 to 1.0310, it is currently back a little at 1.02920 , but a move to previous highs at 1.03315 last seen on 20th March looks likely given uncertainty over Canadian US exports.

Current Level Support Resistance Last week’s range
AUD/CAD 1.0302 1.0120 1.0330 1.0121 – 1.0314