ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

AUDCAD Australian Dollar vs Canadian Dollar

0.882
0.0001 (0.01%)
Last Updated: 02:14:49
Delayed by 15 minutes
Name Symbol Market Type
Australian Dollar vs Canadian Dollar FX:AUDCAD Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.0001 0.01% 0.882 0.8818 0.8823 0.8835 0.8814 0.8821 0 02:14:49

Canadian Dollar Falls On Risk Aversion, BoC Rate Cut Worries

19/01/2017 5:38am

RTTF2


AUD vs CAD (FX:AUDCAD)
Forex Chart


From Mar 2019 to Mar 2024

Click Here for more AUD vs CAD Charts.

The Canadian dollar declined against its key counterparts in the early European session on Thursday, in response to the Bank of Canada Governor Stephen Poloz's warning over an interest rate cut, citing considerable uncertainty surrounding the protectionist policies proposed by the U.S. President-elect Donald Trump.

Speaking to reporters in Ottawa post-BoC decision on Wednesday, Poloz said that an interest rate cut "remains on the table," as the economy is bracing a "protectionist tilt" in the U.S., which would have "material consequences for Canadian investment and exports."

Poloz said the bank is "particularly concerned about the ramifications of U.S. trade policy, because it is so fundamental to the Canadian economy."

"Should any of those downside risks materialize and put our inflation target at risk, then we would have the room to manoeuvre," he added.

Further undermining the currency was risk aversion, with investors turning cautious ahead of the European Central Bank monetary policy decision later in the day and the inauguration of Donald Trump as President on Friday.

Caution prevailed over the fiscal policies proposed by Trump and the potential difficulties in its implementation when he takes charge.

The loonie showed mixed trading in the Asian session. While the loonie held steady against the greenback and the euro, it rose against the yen. Against the aussie, it declined.

The loonie fell to an 8-day low of 1.3287 against the greenback, compared to Wednesday's closing value of 1.3269. The loonie is seen finding support around the 1.335 region.

The loonie that closed Wednesday's trading at 1.4104 against the euro and 0.9958 against the aussie fell to near a 3-week low of 1.4165 and near a 2-month low of 1.0046, respectively. The next possible support for the loonie may be found around 1.43 against the euro and 1.01 against the aussie.

The loonie pared gains to 86.16 against the Japanese yen, from a high of 86.62 hit at 8:15 pm ET. If the loonie extends slide, 85.00 is likely seen as its next support level.

Looking ahead, the European Central bank will announce its interest rate decision at 7:45 am ET. The economists expect the central bank's deposit rate and refinancing rate to remain stable at -0.4 percent and 0 Percent, respectively.

Following the announcement, European Central Bank President Mario Draghi will hold the customary post-meeting press conference at 8:30 am ET.

In the New York session, U.S. building permits and housing starts for December, U.S. weekly jobless claims for the week ended January 14, Federal Reserve Bank of Philadelphia manufacturing index for January, U.S. crude oil inventories data and Canada manufacturing sales data for November are set to be published.

At 3:45 pm ET, San Francisco Fed President John Williams is expected to speak before the Solano Economic Development Corporation Annual Luncheon Meeting, Fairfield, United States.

1 Year AUD vs CAD Chart

1 Year AUD vs CAD Chart

1 Month AUD vs CAD Chart

1 Month AUD vs CAD Chart

Your Recent History

Delayed Upgrade Clock