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CAD pares post CPI/Retail Sales losses,.......>

FOREX
FOREX: CAD pares post CPI/Retail Sales losses, Trump threatens EU tariffs
- CAD remains bottom of the G10 pile following the release of much
weaker-than-expected Canadian CPI & Retail Sales data. USDCAD spiked on react to
C$1.3382 but has since pared a large portion of gains thanks to firmer oil
prices and holds C$1.3280/85.
- The EUR encountered renewed pressure across the board following headlines from
President Trump, threatening 20% tariffs on cars coming into the US from EU.
EURUSD slipped 20 pips to $1.1618. EM FX also felt weight with PLN, HUF & CZK
suffering losses.
- GBP formed a bullish engulfing close following Thursday's hawkish BoE. A close
above $1.3270 today confirms a bullish outside-day reversal, potentially opening
a longer-term move toward $1.3589, which represents the 38.2% retracement of the
decline from the $1.4377 high.
- Antipodeans consolidated daily gains and remain top of the G10 pile, AUDUSD
last at $0.7442, NZDUSD at $0.6915.
- OPEC ministers agreed to boost oil production by around 1m b/d.

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