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USD/CAD has edged lower on a..........>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD has edged lower on a combination of broader USD weakness
& higher oil prices, allowing the rate to shrug off the ongoing geopolitical
tensions between China & Canada. Rate last deals ~30 pips lower at session lows
of C$1.3571.
- Initial support located at Friday's intraday low of C$1.3493, with resistance
noted at the 61.8% retracement of the move from C$1.4690 to C$1.2062 (C$1.3686).
- With a near empty Canadian docket apparent this week, the rate is set to be
driven by broader risk appetite & oil price dynamics. As a reminder, the weekend
saw various OPEC member officials note that the cartel and its partners could do
more if the current OPEC+ agreement fails to stabilise prices/remove fears of a
supply glut.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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