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CAD has been underpinned by the.......>

DOLLAR-CANADA
DOLLAR-CANADA: CAD has been underpinned by the uptick in oil prices in early
dealing this week, with crude's rally coming on the back of the upbeat comments
from U.S. President Trump & his Chinese counterpart Xi re: trade, made over the
weekend.
- USD/CAD last 20 pips or so softer at C$1.3619 after the rate added 20 or so
pips Friday as USD/CAD equalled C$1.3661, a cycle high, keeping USD/CAD bulls in
the driving seat, with the 61.8% retracement level at C$1.3686 in view moving
into the new year. Through there, May 2017 highs at C$1.3793 become the target.
For bears to regain control, a downside break of channel base support at
C$1.3385 is required. Nearer term support is located at Friday's intraday low of
C$1.3595.
- Canadian labour market data, due Friday, headlines the CA economic docket this
week.
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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