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USD/CAD last seen at C$1.3165, 7......>

DOLLAR-CANADA
DOLLAR-CANADA: USD/CAD last seen at C$1.3165, 7 pips worse off on the day.
- The rate finished 16 pips higher yesterday, as the combination of stronger
than exp. U.S. data (GDP & Chicago PMI) and disappointing Canadian releases (c/a
balance & industrial prices) sent it to intraday highs of C$1.3207. Continued
political unrest also added some weight to the loonie. The rate then eased back
from best levels, perhaps as the impact of higher WTI prices came to the fore.
- The initial bullish target is provided by the 200-HMA at C$1.3185, followed by
the 21-DMA/yesterday's peak at $1.3205/07. Bears keep an eye on the Feb 21 low &
200-DMA at C$1.3163, which has limited losses thus far, and a break below would
allow them to set their sights on Monday's low of C$1.3113.
- Canadian focus today turns to domestic Dec/Q4 GDP and m'fing PMI.

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