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DOLLAR-CANADA: USD/CAD trades virtually unchanged at C$1.3302 after climbing 24
pips Monday, mostly on the back of broader USD strength.
- Participants remain attentive to WTI, which still sits well below $53/barrel.
Reports (inc. market outlooks) from EIA & OPEC, due later today, may provide
some clarity re: further direction of the oil mkt.
- After the rate broke above the C$1.3300 figure, bulls shift their focus to
C$1.3319, which capped gains Monday, followed by the cloud base at C$1.3340.
Meanwhile, the initial bearish target is provided by Monday's low of C$1.3262. A
fall below would open up C$1.3246, which represents the 21-DMA.
- Canadian econ calendar is rather light this week, with domestic m'fing sales &
housing price data due to hit on Thursday.