Australian and Canadian dollar are both weak currencies, but if we have a quick look at the fundamentals and technicals there may be a good trading opportunity.
The Canadian Manufacturing Shipments from Tuesday exceeded the expectations: 0.3 vs 1.0 m/m and the Retail Sales from yesterday also: 0.3 vs 0.6 m/m. On the other hand we have the Australian dollar which is the currency that reacts the most from the economics data from China. Yesterday the manufacturing data from China was weak.
So the C…
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