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AUD/CAD: Further losses short term likely - Westpac

FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, notes that further losses short term in AUD/CAD are likely.

Key Quotes

"Further losses seem in store for AUD/CAD in coming weeks, towards 0.96. The contrast between China’s deceleration and US economic optimism should keep the pair heavy for now."

"Towards year-end however, there is probably not much more downside on the pair, with Canada’s economy not strong enough to warrant higher interest rates (still just 1%) until deep into 2015 and the RBA firmly on hold given concerns over the strength of Australia’s housing market. We also expect better Chinese data and higher iron ore prices into early 2015."

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