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USD/CAD last deals at C$1.3410, 3.....>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD last deals at C$1.3410, 3 pips higher on the day, after
advancing 23 pips Monday, with both sides of the rate struggling. Although the
greenback took a blow from soft Empire m'fing data, the rate climbed later in
the day, as CAD suffered from another decline in oil prices amidst fears of a
global supply glut reinvigorated by a Genscape report saying that inventories at
the biggest U.S. storage hub rose by 630,000 barrels. WTI holds below $50/barrel
at writing, just above yesterday's/fresh multi-month lows of $49.01. 
- USD/CAD bulls look for a break above the Dec 11 high of C$1.3424, followed by
the Dec 6 high of C$1.3445. Conversely, bears need a fall back below C$1.3400
before challenging yesterday's low at C$1.3373. 
- Canadian highlights this week include domestic CPI due Wednesday, as well as
retail sales & GDP due Friday. Elsewhere, the BoC will release its biz. outlook
survey also on Friday.

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