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Confirmed exemption for Canadian......>

MNI (London)
DOLLAR-CANADA: Confirmed exemption for Canadian steel and aluminium trade
tariffs has provided a boost for the Cad as Usd/Cad extends its corrective
pullback away from recent highs of C$1.3001(C$1.2961 Mar8 high) to retest the
recent low of C$1.2868(Mar8 low), marking a fresh low of C$1.2867. Rate
currently trades around C$1.2870. US and Canadian job reports due for release at
1330GMT and seen as the next major influence on direction. Median for Canadian
jobs seen at 21k, though noticeable that two major Canadian banks have forecasts
below this level, one suggesting the unemployment rate to nudge up to 6.0% from
5.9% last. US NFP median seen at 205k, though more focus on earnings, AHE median
0.2%mm, 2.8%yy. Support seen into C$1.2850, a break to open a deeper move toward
C$1.2820. Resistance C$1.2910, C$1.2950/60 ahead of stronger interest at the
recent highs of C$1.3001. Traders also aware that the C$1.3000 level holds the
strike of an expiring option, $1.87bn. 
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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