This is the current AUD-CAD mid-market exchange rate. The Total Cost of buying foreign currency in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market AUD-CAD exchange rate.
Whenever you are researching a particular exchange rate you are actually interested in two currencies as the value of a currency must always be quoted relative to a second currency.
So it follows that if you are determining the best time to transact, in this case the AUD vs CAD, you should pay attention to both Australian Dollar and Canadian Dollar news and forecasts.
11-January-19: The Australian dollar recovered strongly following a "flash crash" in early January which saw it briefly trade at a 10-year low of 67.4 US cents.
By the time of this report, AUD/USD was back above $0.72 and roughly in line with December’s median exchange rate. The Aussie was similarly strong against other major currencies following its mini crash.
At current levels the Aussie “is very undervalued” versus the US dollar, a CIBC analyst said in late December; it was his “best bet” for 2019. The analyst’s view was based upon there being a positive resolution to the US-China trade spat. In the second half of 2019, the Aussie could be quoted as high as $0.78, the analyst said — 8 percent higher than rates at the time of writing.
For AUD/NZD, TD Securities expects near-term appreciation from NZ$1.05 to NZ$1.1.
Against other major currencies, the Aussie’s outlook is less optimistic. In recent months, investors have become increasingly certain that no increase to Australian interest rates will be seen until 2020. Inaction on interest rates will force capital away from Australia and towards countries where rates are higher or are expected to increase.
31-December-18: In late December, the Canadian dollar traded at C$1.364 per USD — its weakest level in 19 months. It weakened to an 8-month low versus the euro, at C$1.562 per EUR.
The loonie fell sharply in the third-quarter following a 40-percent collapse in the price of Canada’s largest export, oil, and following dovish remarks from the Bank of Canada, which had traders trimming expectations for future Canadian interest rates.
Risks to the Canadian dollar include, of course, oil, and the return of global trade tensions. On the latter, investors were spooked in late December after President Trump reportedly threatened to ban US telecoms companies from using products made by Chinese technology giants Huawei and ZTE.
In December, Citibank offered a 6-month forecast for USD/CAD of 1.3, representing potential CAD appreciation of 5 percent from end-of-year rates.
Towards the end of 2018, Goldman Sachs predicted a strong energy market rebound in 2019. If realised, this would underpin Canada’s currency.
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