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Risk Bounce Helps USDCAD Unwind Post-Jobs Spike

CANADA
  • Equities pushing strongly higher on the US open helps USDCAD continue to retrace its brief 50 pip step higher on the jobs report. Currently back at 1.3336 for only ~15 pips higher since the release.
  • Intraday pre-data low of 1.3317 with further support seen at with 1.3315 (May 8 low) before the key 1.3302 (Apr 14 low).

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