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USDCAD Clear Resistance On Weaker Domestic Demand Data

  • USDCAD hovering close to the post-GDP data high of 1.3557 after rising 50 pips as the headline beat belied weaker internals.
  • In clearing resistance at 1.3505 (yesterday high), it opens 1.3571 (Nov 10 high) after which would lie 1.3605 (trendline resistance from the Oct 13 high).
  • Sizeable underperformance to peers for CAD, down -1.1/-1.2% vs NZD and AUD on the day.

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