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USD/CAD has added a handful of pips...>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD has added a handful of pips and last trades at C$1.3441,
its 21-DMA.
- The rate dropped 24 pips yesterday, with the latest DoE report lending support
to oil prices, as it revealed that U.S. gasoline inventories shrunk more than
expected, while the build in crude inventories missed forecasts. CAD rose
alongside oil, trailing only NOK within the G10 FX space at the end of the day.
- This occurred after the pair topped out at C$1.3494 on the back of stronger
than exp. U.S. Empire m'fing data. Elsewhere, Canadian CPI figures matched
expectations.
- A break above the 200-HMA at C$1.3460 would open up C$1.3500-05, which has
proven hard to overcome this month. Meanwhile, bears look to the 50-DMA/55-DMA,
which come in at C$1.3392/90.
- The BoC will publish its Financial System Review later today.

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