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USD/CAD has consolidated in early.....>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD has consolidated in early Asia-Pacific dealing and last
sits at C$1.3313 after rallying 135 pips Tuesday. The rate's upside move was
facilitated by a slump in oil prices on the back of concerns that OPEC's plans
to curb output will be insufficient to prevent further build of global supply
glut. As a result, WTI fell nearly 7% on the day hitting fresh multi-month lows
& weighing on the oil-tied CAD. 
- Initial bullish target at C$1.3318, where the rate peaked yesterday, as
USD/CAD sits just a touch shy of that level. A break above would open up the Oct
1 channel top at C$1.3362. Conversely, bears eye the C$1.33 handle, hoping to
move through towards the 21-DMA/yesterday's lows at C$1.3161/56. 
- Canadian focus this week falls on domestic CPI & retail sales figures due
Friday.

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