Idea for next week.
The AUD/CAD pair has shown an upward movement on the four-hour chart, driven by a mix of market factors. Despite weak economic data from China, which weighs on the Australian dollar, recent gains have been supported by speculation around the Bank of Canada accelerating its rate cuts. The dovish stance from the Bank of Canada’s governor, coupled with falling oil prices, has weakened the Canadian dollar (CAD), giving the Australian dollar (AUD) room to strengthen.
The pressure on CAD is compounded by concerns over lower oil demand, particularly in light of the global economic slowdown. Meanwhile, AUD continues to face challenges due to its strong correlation with Chinese economic performance, although it has managed to outperform CAD in the short term.
The pressure on CAD is compounded by concerns over lower oil demand, particularly in light of the global economic slowdown. Meanwhile, AUD continues to face challenges due to its strong correlation with Chinese economic performance, although it has managed to outperform CAD in the short term.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.