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USDCAD has benefitted from the........>

DOLLAR-CANADA
DOLLAR-CANADA: USDCAD has benefitted from the broader USD weakness (ex-JPY) as
oil moved sharply higher in early dealing as tensions in the middle east
increased, with Saudi Arabia downing Yemeni launched rockets over Riyadh. Crude
has been choppy over the last hour or so, following the launch of Chinese crude
futures, but this hasn't really weighed on the loonie.
- USDCAD remains well shy of Friday's session low at 1.2825, with hourly
resistance noted at 1.2895, with hourly congestion of 1.2920-25 lying above.
- The highlight of the Canadian economic calendar this week will be Thursday's
February GDP release, with traders also continuing to focus on any trade/NAFTA
based rhetoric from over the border in the US.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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