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USDCAD Holding Higher Ahead of 0830ET Data

CANADA
  • USDCAD has more than reversed an overnight decline to sit circa 1.3625 (+0.1%) with CAD towards the low end of the G10 FX pecking order on the day.
  • A further boost for oil is countered by the S&P e-mini rolling over after solid gains of the past two days.
  • The technical outlook is seen as bullish with resistance at 1.3705 (Dec 16 high) and support at 1.3519 (Dec 14 low).
  • Ahead at 0830ET, US GDP/PCE revision for Q3 and jobless claims plus at the margin the Oct SEPH report.

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