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DOLLAR-CANADA: USD/CAD has stuck to a relatively tight range during an address
from BOC Gov. Poloz as he reiterated the Bank's data dependant stance and need
for continued, gradual rate hikes.
- Poloz attributed the recent uptick in inflation to "temporary factors," but
highlighted inflation risks around the potential imposition of U.S. tariffs,
stressing that the Bank will fight inflation if "push comes to shove." Poloz did
however state that he is optimistic that there will be some sort of NAFTA
- USD/CAD last deals at C$1.3035, 10 pips or so softer on the session.
- USD/CAD has failed to hold its post-Fed rally through the 100-DMA (C$1.3053),
closing below the level. Bulls are targeting a break of the 50% retracement
level at C$1.3136. Bears need a break back under C$1.2900.
- Canadian GDP provides the highlight of the CA docket on Friday.