A volatile week for the Australians which ended strongly to save their blushes. The building approvals data was released yesterday at 2.30, and although it came out over 7% worse than expected there was very little movement in the market. However, as the Europeans woke, we began to see a steady weakening for the next five hours when it hit a resistance level of 2.15, dropping to 2.14 by the end of play.
Although performing slightly better than the lows of last week, the Canadian dollar is still comfortably over the 2.00 mark. Early week releases on Tuesday were indifferent, but the release of the Gross Domestic Product (GDP) later today could cause a big market shift
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