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USD/CAD dropped some 20 pips..........>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD dropped some 20 pips Wednesday and last sits at C$1.3277.
- The rate registered steady gains throughout Wednesday's Asia-Pac & European
sessions and printed fresh highs of C$1.3360 after the EIA report showed larger
than expected growth in U.S. crude oil stockpiles, weighing on oil prices. 
- However, the pair was knocked off its peak by comments from Fed Chair Powell,
who said that interest rates are "just below neutral". His words, read by many
as a dovish signal, triggered broader dollar weakness sending USD/CAD more than
100 pips lower. 
- Bears eye Wednesday's intraday low at C$1.3259 and a break below would open up
the Nov 27 low of C$1.3236. Conversely, initial upside focus falls on the
C$1.3300 figure and a move through that level would allow bulls to target
yesterday's peak. 
- Domestic GDP due Friday will capture Canadian attention this week.

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