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USD/CAD last deals at C$1.3231, 15....>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD last deals at C$1.3231, 15 pips softer than settlement,
on the back of a recovery in risk appetite overnight. 
- Early reports of China's official intervention in USD/CNY limited broader risk
off flows, before positive news re: China-U.S. trade relations flipped sentiment
(the SCMP reported that China's top trade envoy is to head to the U.S.). 
- Renewed risk on flows alleviated some of the pressure exerted on CAD by heavy
oil prices. WTI is on course for a 12th straight day of declines, well below the
key level of $60/barrel, after Trump's criticism of OPEC+ & Saudi plans to cut
crude supply on Monday. 
- Initial downside focus falls on yesterday's low at C$1.3183 and a break below
would open up the 38.2% fibo retracement from C$1.3056 to C$1.3233 at C$1.3165.
Conversely, bulls look to retake the Nov 9 highs of C$1.3233 before trying to
reclaim yesterday's high at C$1.3250. 
- Canadian docket is very thin this week and includes m'fing sales on Thursday.

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