AUDCAD

Australian dollar / Canadian dollar

It is noted that retail sales in Canada for October increased by 1.4% compared to September. The figure is lower than analysts' forecasts, which is an increase of 1.5%. However, it is the largest growth in the last 5 months. According to estimated data, November sales may have fallen by 0.5%.

The slump in Australia's real estate market, recorded after the COVID-19 pandemic, is likely to worsen next year. This is due to the need to cover mortgages taken in 2020-21, when interest rates reached their all-time lows.

The Canadian dollar strengthened against the U.S. currency. Investors expect that the easing of COVID restrictions in China will increase demand for oil, which is one of the main exports of Canada.

The Reserve Bank of Australia (RBA) was considering pausing its tightening policy cycle this month.

A slowdown in sales was recently noted by Australian retailers. This is linked to a rapid growth of interest rate in the country, which has been having a negative impact on consumers’ buying power in the run-up to Christmas.