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CIBC recommend a short USD/CAD........>

DOLLAR-CANADA
DOLLAR-CANADA: CIBC recommend a short USD/CAD position targeting C$1.2600 and a
stop loss of C$1.3150, trade initiated at C$1.2980.
Rationale:
-GDP north of 3% implies Sept/October hike in play for the Bank of Canada
-Today's CAD trade figure introduces positive forecast risk for Q3 growth
-Market is still short CAD and positive data could see shorts squeezed further
-"We've run out of ways to tell you how overvalued [the USD] is."

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