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Free AccessUSD/CAD has shed 7 pips and last......>
DOLLAR-CANADA: USD/CAD has shed 7 pips and last deals at C$1.3355, as firmer WTI
prices continue to provide support to the loonie, which sits atop the G10 pile
at typing.
- The pair dipped 53 pips yesterday, as improving WTI prices coupled with the
broader post-ECB greenback weakness applied weight through the day. Elsewhere,
Canadian trade deficit came in narrower than exp. and was smallest since Oct
2018.
- Bears look to the nearby 100-DMA at C$1.3351 and a breach of the figure would
expose the lower 1.0% 10-DMA envelope at C$1.3309. Bulls need a break above
C$1.3400 before attempting a move at the 50-DMA, located at C$1.3417.
- Canadian labour mkt report comes out later today.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.