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Little impact on USD/CAD after........>

DOLLAR-CANADA
DOLLAR-CANADA: Little impact on USD/CAD after Trump points to a "good &
productive" meeting with Canadian counterpart Trudeau, as risk off flows keeps
high beta FX on the defensive.
- Rate last deals at C$1.3315, 30 pips or so higher on the day, just off best
levels of C$1.3320. Bulls look for a break of C$1.3346/55 which corresponds with
the high from Aug 20/61.8% retracement of the May 31 - Jul 19 decline, while
bears need a move back below the Aug 19 low at C$1.3251.
- Pressure on oil adds a further headwind for the loonie.
- To recap, stronger than expected Canadian retail sales data was the highlight
of the local docket on Friday.
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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