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USD/CAD has shed 14 pips and last.....>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD has shed 14 pips and last trades at C$1.3178 as WTI
prices have advanced further, while the greenback remains fragile.
- The pair slumped 88 pips yesterday, as post-FOMC USD selloff & the biggest
spike in WTI prices this year conspired against USD/CAD.
- Crude oil was pushed higher by U.S.-Iran tensions, which escalated after
Teheran's military shot down a U.S. drone. The event triggered worries re: crude
supply through the strategic Strait of Hormuz.
- Elsewhere, Canadian PM Trudeau met with U.S. President Trump in Washington.
The two leaders discussed topics ranging from collective mineral security to
Canadian citizens detained by China to the USMCA trade deal.
- Should USD/CAD move below the lower 1.0% 10-DMA envelope at C$1.3175 and the
lower Bollinger band (2%) at C$1.3167, bears would set their sights on the
200-WMA, which comes in at C$1.3121. Meanwhile, a return onto the C$1.3200
handle would give bulls a green light for challenging the 200-DMA, located just
shy of yesterday's high of C$1.3286.
- On the data front, Canadian retail sales data is expected later today.

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