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Sees broader selling momentum

CAD

CAD extends lower, more consolidation after trading at best levels since 2018.

  • Nonetheless, the CAD is the only currency that is trading in negative territory versus the Dollar in G10.
  • CAD under performs across the board and in all majors.
  • This morning some report of Japanese name buying USDCAD, related to CADJPY, and some positioning ahead of the Canadian CPI at the bottom of the hour.
  • Next resistance in USDCAD comes at 1.2790 High Dec 14

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