Audcad news

AUD/CAD News!

Here are some recent news and updates that may impact the AUD/CAD currency pair:

Economic News

• Australia's GDP growth rate slowed to 0.4% in the December quarter, missing expectations of 0.5%. (Source: Australian Bureau of Statistics)
• The Reserve Bank of Australia (RBA) kept interest rates unchanged at 0.75% in its February meeting, citing low inflation and a strong labor market. (Source: RBA)
• Canada's GDP growth rate accelerated to 0.3% in the fourth quarter, beating expectations of 0.2%. (Source: Statistics Canada)

Market Analysis

• The AUD/CAD pair has been trading in a narrow range of 0.95-0.98 in recent weeks, with the Australian dollar struggling to break above the 0.98 level. (Source: FXStreet)
• Analysts at TD Securities expect the AUD/CAD pair to trade in a range of 0.95-0.98 in the short term, citing a lack of clear direction. (Source: TD Securities)
• The Canadian dollar has been supported by a strong labor market and higher oil prices, which has kept the AUD/CAD pair under pressure. (Source: Bloomberg)

Events to Watch

• The Reserve Bank of Australia will release its March monetary policy statement on March 4, which could provide guidance on future interest rate moves. (Source: RBA)
• The Bank of Canada will release its March monetary policy statement on March 18, which could provide insight into the central bank's views on the economy and interest rates. (Source: Bank of Canada)
• The Australian government will release its budget for the 2020-2021 fiscal year on March 11, which could impact market sentiment and the AUD/CAD pair. (Source: Australian Government)

Technical Analysis

• The AUD/CAD pair is trading below its 200-day moving average, which could indicate a bearish trend. (Source: TradingView)
• The RSI (Relative Strength Index) is currently at 50, indicating a neutral reading. (Source: TradingView)
• The AUD/CAD pair has been trading in a descending channel since January, which could continue to influence price action. (Source: FXStreet)

Stay tuned for more updates and analysis on the AUD/CAD pair!