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CAD benefitted from confirmation......>

DOLLAR-CANADA
DOLLAR-CANADA: CAD benefitted from confirmation that Canada will receive an
indefinite exemption (contingent on NAFTA progress), with USDCAD printing a low
of 1.2888, the cross last trades at ~1.2905 
- Comments by BoC Deputy Gov. Lane were largely ignored by CAD traders, as the
speech reinforced the emphasis on trade-related uncertainties, and consequences
for business investment in Canada, reinforcing the more dovish tilt of the
policy statement published Wednesday relative to January. (MNI - For Full Story
See Main Wire At 00:12 GMT 03/09).
- Looking at USDCAD from a technical perspective, two attempts to move above
$1.3000 have failed. The subsequent pullback meeting support from above the
38.2% Fibo retrace level (from the Feb 26 low) at $1.2854, initial hourly
support lies around 1.2880.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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