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USD/CAD last deals at C$1.3087, 8.....>

DOLLAR-CANADA: USD/CAD last deals at C$1.3087, 8 pips worse off, as the loonie
benefits from the broader risk-on flows inspired by the reboot of U.S.-China
trade talks agreed upon by Presidents Donald Trump and Xi Jinping during the G20
summit over the weekend.
- Worth highlighting positive risk appetite continues to aid crude oil prices;
WTI briefly spiked above $60/barrel at the open, before retreating from highs.
- The weekend also saw yet another episode of the Huawei saga, which continues
to put a strain on Sino-Canadian relations. Canadian PM Trudeau said he
approached Pres Xi re: the two Canadians detained in China in an apparent
retaliation for Canada's arrest of Huawei CFO Meng, but didn't disclose if the
latter case was discussed. Meanwhile, Huawei founder Ren said that the company
still plans to make Canada is global research centre.
- This comes after the rate charted a Doji on Friday, even as solid Canadian GDP
& BoC Summer 2019 Biz. Outlook Survey allowed it to touch a new YtD low.
- Bears look to Friday's YtD low of C$1.3060, bulls eye the 50-MMA at C$1.3105.
- In focus this week: m'fing PMI (Tues), trade balance (Weds), jobs data (Fri).

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