May 2, 2013
Forex: AUD/CAD finishes sharply lower as risk assets stumble
The AUD/CAD finished the session sharply lower, down 66 pips at 1.0362. This was the lowest close (and also the first time it closed below the 200dma) since February. It was a rough day for many asset classes as both commodities and equities finished with sharp declines. Many are pointing to recent economic weakness, and the Aussie’s correlation with global growth outlook to expect further declines in the pair.
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