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AUD/CAD: Bearish domination expected to continue - RBS

FXStreet (Bali) - According to Greg Gibbs, FX Strategist at RBS, AUD/CAD selling pressure is expected to continue.

Key Quotes

"Chinese economic data has weakened faster than expected and the down-turn in property activity and prices threatens to extend and deepen the growth down-turn well into next year."

"This is expected to cast a shadow over the AUD outlook for some time even if there are mitigating factors such as more rapid capital outflow from China including inflows to Australian property."

"On the other hand Canadian economic activity appears to have picked up with rapid recent growth in manufacturing shipments and orders reported on Tuesday."

"While AUD faces weaker demand from its largest trading partner, the opposite is true for Canada and its growth upswing may be more durable. AUD/CAD has been under-pressure recently and we expect this trend to continue."

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