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USD/CAD last deals at C$1.3255, a.....>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD last deals at C$1.3255, a touch lower on the day after
advancing 65 pips yesterday. 
- On Tuesday, the rate slipped initially, hitting intraday lows of C$1.3164, as
oil prices moved higher lending support to CAD. However, the pair bounced in
mid-European trade after BBG cited Saudi Energy Minister Al-Falih saying that an
OPEC deal on cutting production remains uncertain. RTRS reports that Saudi
Arabia had cut oil OSPs to certain customers also supported the pair's rally in
the 2nd half of the day, helping it to close just 4 pips shy of intraday highs. 
- Initial resistance is located at C$1.3266, where the rate peaked yesterday. A
break above that level would open up the technical gap to Nov 30 close at
C$1.3287. On the downside, initial focus falls on the 21-DMA at C$1.3228. Bears
look to a break below, which would allow them to target yesterday's low at
C$1.3164. 
- Canada awaits BoC's MonPol decision due to hit the wires later today, with
markets expecting no change to the 1.75% rate. Elsewhere, domestic labour market
report will be released Friday.

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