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Attention turns to the Canadian Employment data

FOREX
  • A mixed start for the USD, was in the green overnight, then pared some gains during the early European session, after Equities found a bid.
  • The Dollar is now back on the front on the margin, leading against the Kiwi, up 0.52%, and trading circa flat versus the NOK, JPY, EUR, GBP.
  • CHF still holds onto 0.20% gains versus the Greenback.
  • Turnovers and volumes are on the low during this Easter week and ahead of the long Bank Holiday weekend.
  • Most of the early action has been in Bond futures moving higher across the board, with some desks likely positioning for the US NFP release tomorrow.
  • Note that all the markets in Europe and the UK will be closed, and US exchange will close early post the NFP release.
  • Looking ahead, there's no tier 1 data for the EU and the US, but all the attention will be on the Canadian employment data, which has always good potential to move the CAD.
  • Note that there's large option expiry for today in USDCAD, with 5.47bn between 1.3430/1.3500.

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