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DOLLAR-CANADA
DOLLAR-CANADA: *Correct* (Correct tag to Dollar-Canada)
CAD benefitted from the commodity currency strength/USD weakness overnight,
consolidating below 1.2800, last at 1.2790, after a clean break of some key
technical levels. Downside attention now falls on the 1% volatility band & Feb
22 high at 1.2756/58.
- The positive spin on NAFTA renegotiations has supported the loonie in recent
sessions and allowed the cross to advance overnight even as crude futures edged
lower.
- Wednesday's session presents no notable domestic risk events for the CAD, but
Canadian trade data will be released tomorrow, while the headline risk event for
the week comes in the form of Friday's labour market report.
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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