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Ending A Volatile Session Pushing Higher

CANADA
  • USDCAD continues what has been a relatively volatile session for the pair around moves in BBDXY, nearing the end of the session pushing higher back to 1.347.
  • It remains below earlier highs of 1.348, which took another step closer to initial resistance at 1.3502 (Aug 8 high) as short-term conditions remain bullish.
  • Tomorrow sees CAD CPI and US retail sales land concurrently. Largest option expiry is again skewed lower for the pair at the NY cut, with the largest $622m at 1.3400, but it didn’t have much sway in today’s price action with strikes further away from spot.

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