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Market Mood AUDCAD 03.02.21

Market Mood AUDCAD 03.02.21

Market Mood AUDCAD 03.02.21

in Daily Forecasts

Listen to the latest market mood for the AUDCAD pair.

Weak AUD, Strong CAD

The Reserve Bank of Australia kept the cash rate and the 3yr bond yield target unchanged at 0.10% as expected. The RBA also said that they will not increase rate until actual inflation is above the 2-3% target range. This means that interest rates may not be increased until 2024. The change to the policy was the extension of bond purchases by $AUD100 billion. This was slightly unexpected and brought AUD weakness.

The Bank of Canada has a more optimistic outlook and the latest rise in oil prices is supporting CAD. This means that AUDCAD rallies higher should find sellers.

Trade Risks: The main risk to this trade is from a risk off tone that weakens oil and sends CAD lower.


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Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of HYCM, a third party or otherwise.

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