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Despite stalling around the Jan 7.....>

DOLLAR-CANADA
DOLLAR-CANADA: Despite stalling around the Jan 7 high (C$1.3391), USDCAD remains
at elevated levels ahead of the BoC rate decision at 1500GMT. TD Securities
expect the Bank to keep rates on hold at 1.75% as disappointing Q4 GDP
complicates what had originally looked like a placeholder meeting. They add "the
poor GDP introduces a material risk that they will abandon the pretence of
further tightening given their adherence to data-dependent monetary policy."
- Cloud top resistance comes in today at C$1.3404, a break opens the 61.8%
retracement level of C$1.3665-1.3069 & Upper Bollinger band (3%) at C$1.3437/51.

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