Australian Dollar/Canadian Dollar (AUD/CAD) Exchange Rate
AUD/CAD Pivot Points
AUD/CAD Latest Updates
Australian exports plunged 11.0% in April with imports down 10.0%, resulting in a smaller than forecast decrease in the trade surplus as compared to March.
Preliminary PMI reports out of Australia for May show the manufacturing sector contraction at a steeper rate than in April,
Australia reported an unexpected 15% surge in March exports, but the Australian Dollar was unable to benefit from it.
While the Australian government rushed through to economic stimulus packages worth A$83.6 billion, it will now enter a five-month recess.
Australian economic data showed a further contraction in consumer as well as business confidence.
Consumer confidence contracted in Australia as Covid-19 cases outside of China increased. China relaxed restrictions, offering a much-needed improvement in the condition.
Better than expected housing data out of Canada released yesterday was trumped by a surprise surge in the value of home, owner-occupier, and investor loans out of Australia.
As the new string of a deadly coronavirus spreads around the world, Asian economies are the most directly impacted ones.
Chinese trade data for December showed a sharp increase in exports, but this is likely due to demand from the holiday shopping season.
Bullish momentum is fading after price action reached its resistance zone, but it managed to record a marginally higher high.
Dovish minutes released by the Reserve Bank of Australia highlighted concerns over weak wage growth and inflation targets.
Conflicting reports were released over the past few hours in regards to the US-China trade talks.
Get the AUD/CAD Forex signal for February 23, 2017 here.
The AUD/CAD pair initially tried to rally during the session on Thursday, but as you can see sold off yet again.
The AUD/CAD pair initially broke higher during the day on Wednesday, but as you can see struggled at the 1.0150 level. The market broke down from there, but as you can see we still see the 1.01 level as an area of interest for the marketplace, as it was previously resistive.
Check out the updates for signals posted throughout December 2013 and January 2014 here.
The AUD/CAD pair continues to fall over the longer-term, and I think December will see more of the same. The reason I am doing analysis on this pair is that it is so useful when it comes to others markets.
The AUD/CAD pair initially fell during the session on Tuesday, but found the 0.9750 level as being supportive enough to push the market much higher.
The AUD/CAD pair rose during the session on Friday, bouncing off the 0.9750 level again. This is an area of consolidation and I find interesting, simply because we have the Australian dollar looking like it's trying to find support against the US dollar, then this market does tend to mirror that one.
The AUD/CAD pair fell during the session on Thursday, testing the bottom of the hammer that had formed on Wednesday.