Australian Dollar to Canadian Dollar (AUD/CAD) Exchange Rate Forecast: RBA and BOC in Focus

  • Posted on

Fifty Canadian Dollars (CAD)

The Australian Dollar to Canadian Dollar (AUD/CAD) exchange rate climbed in Tuesday’s North American session as investors digested the recent Reserve Bank of Australia (RBA) and Bank of Canada (BOC) statements.

The RBA shook markets when Governor Glenn Stevens suggested that there was room for further rate cuts in coming months as Sydney’s housing market continued to look ‘exuberant’.

Stevens stated: ‘Popular commentary is, in my opinion, too focused on Sydney prices and pays too little attention to the more disparate trends among the other 80% of Australia.’

‘That said, it is hard to escape the conclusion that Sydney prices – up by a third since 2012 – look rather exuberant.’

Meanwhile, Bank of Canada Governor Stephen Poloz suggested that the recent central bank cut in interest rates had created enough of an impact on the economy to perhaps avoid another rate cut entirely.

Poloz stated: ‘That amount (of rate cut) seems to be about right to restore our track for the Canadian economy for the next year or so and to get the output gap to close late 2016.

So that keeps our inflation objective on track to be on sustainable 2% inflation around the end of 2016. That implies… that the amount of insurance was just about the right amount.’

The Canadian Dollar has been extremely sensitive to falling oil prices in the latter few months, but with some experts suggesting prices appear to be bottoming out, the ‘Loonie’ exchange rate could be on its way up in coming months.

Australian Dollar to Canadian Dollar (AUD/CAD) Exchange Rate Forecast

The Australian Dollar to Canadian Dollar (AUD/CAD) exchange rate could be in for an interesting day on Wednesday with the release of the Australian Consumer Price Index (CPI).

A fall in inflation could see the ‘Aussie’ sink against a host of other major currency peers including the Canadian Dollar; annual first quarter figures are forecast to slip from 1.7% to 1.3%.

The Canadian Dollar to Australian Dollar (CAD/AUD) exchange rate is trading at 1.0545. The Australian Dollar to Canadian Dollar (AUD/CAD) exchange rate is trending in the region of 0.9462.

« Previous Story

Australian Dollar to Canadian Dollar (AUD/CAD) Exchange Rate Forecast to Decline as Crude Price Rises

Next Story »

Australian Dollar to Canadian Dollar (AUD/CAD) Exchange Rate Forecast: Bearish Oil Weighs on ‘Loonie’


Disclaimer: Currency-Converter.com.au and its data provider, TorFX, make no claims regarding the validity or exactness of the information provided in on this site and will not be held liable for any use, interpretation, or other implementation of the information provided. Currency-converter.com.au make no warranties, express or implied, as to results to be obtained from use of such information, and make no express or implied warranties of condition, quality, performance, merchantability or fitness for a particular purpose or use. Currency-converter.com.au shall not have any liability for the accuracy of the information contained in the services provided or ommissions there in which are made available on a free, as-is basis. None of the aforementioned parties shall be liable for any third party claims or losses of any nature, including, but not limited to, lost profits, punitive, consequential, special, incidental, indirect or similar damages even if advised of the possibility of such damages. Rates offered are interbank rates and may not be the same as offered by your financial institution, and do not include commissions. Rates shown on this site will vary from those provided by TorFX or other providers linked to from this site.