Wednesday, August 29 – Asia Session Recap
During the Asia-Pacific session, CAD remained well supported on market optimism over a NAFTA deal between the US and Canada.
According to The Global and Mail, Canada is willing to make concessions on dairy. While Canada’s Freeland stated that US/Mexico progress on autos and labour was particularly helpful.
Elsewhere, AUD has weakened following reports that Westpac has lifted home loan interest rates by 0.14%.
According to Herald Sun, many other major banks are likely to follow suit which could result in the RBA remaining on hold for longer.
Consequently, AUDUSD fell to test the 0.73 handle while AUDNZD fell to test the 1.09 handle.
For additional research, we’ve posted news articles from around the web below.
- Westpac, St George hike interest rates
- Westpac raises home loan rates, citing rising funding costs
- Westpac to hike mortgage rates
- Trudeau stands firm on US demands as NAFTA talks set to resume
- Canada likely will have to give U.S. more access to dairy market to strike NAFTA deal: experts