{"id":31698,"date":"2012-08-17T07:55:39","date_gmt":"2012-08-17T11:55:39","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=31698"},"modified":"2012-08-17T07:34:52","modified_gmt":"2012-08-17T11:34:52","slug":"audcad-loonie-to-edge-the-aussie-for-a-second-week","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2012\/08\/17\/audcad-loonie-to-edge-the-aussie-for-a-second-week\/","title":{"rendered":"AUD\/CAD: Loonie to Edge the Aussie for a Second Week"},"content":{"rendered":"

Article by AlgosysFx Forex Trading Solutions<\/a><\/p>\n

In the currency skirmish to close out the week\u2019s exchanges, the Canadian dollar is presupposed to beat its Australian counterpart today. The Loonie currency looks to take advantage of reports out earlier that the Reserve Bank of Australia could ease its monetary policy. On the economic docket today from the Maple Leaf is the nation\u2019s inflation
\nreports that could likely sustain the Canadian currency\u2019s advance. Also seen to influence the currency pair\u2019s price activity is a report from the United States regarding the financial confidence of consumers from the world\u2019s largest economy.<\/p>\n

The Loonie currency is set to best the Aussie for the second consecutive trading week as it likewise extends its gains against its primary trading partner\u2019s monetary exchange. Trades for the AUDCAD today are projected to remain bearish, and a sell bias is proposed.<\/p>\n

In a report on the Australian Treasury\u2019s website entitled \u201cUnderstanding the appreciation of the Australian dollar and its policy implications,\u201d it states that \u201cthe Australian dollar is overvalued compared to its medium-to-long run equilibrium value. Though the Treasury admitted that the estimate is still subject to considerable uncertainty, this opens up the possibility for the RBA to further cut its interest rate. The Aussie fell quite sharply as a result of the news.<\/p>\n

Meanwhile, inflation data out today from StatsCan is estimated to be moderate. Both CPI and Core CPI for the month of July are forecast to be at 0.2 percent for the past
\nmonth. After a 0.4 percent beating in the previous release, a rebound in the nation\u2019s inflation is believed to push the Canadian Loonie higher.<\/p>\n

In addition, the preliminary reading for the University of Michigan Consumer Sentiment is estimated to go up by two ticks from the upwardly revised 72.3 point release for July. Economists project a grade of 72.5 for this month. Though the rating has yet to improve more than the year\u2019s average of 75.9, this should still account for more than the last August\u2019s 55.7 figure.<\/p>\n

Improving conditions in North America provide a lift to the demand for the Loonie ComDoll. Considering these factors, a sell position is advised for the AUDCAD today.<\/p>\n

 <\/p>\n

For more news, analysis, technical charts and candlestick analysis, visit AlgosysFx<\/a>.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Article by AlgosysFx Forex Trading Solutions In the currency skirmish to close out the week\u2019s exchanges, the Canadian dollar is presupposed to beat its Australian counterpart today. The Loonie currency looks to take advantage of reports out earlier that the Reserve Bank of Australia could ease its monetary policy. On the economic docket today from … <\/p>\n

Continue reading “AUD\/CAD: Loonie to Edge the Aussie for a Second Week”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-31698","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/31698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=31698"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/31698\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=31698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=31698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=31698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}