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USDCAD Nears Latest Resistance

CANADA
  • USDCAD has pushed to session highs of 1.3398, a step closer to yesterday’s 1.3405 with a continuation potentially opening 1.3466 (50-day EMA).
  • The move has come with CAD second worst performer across G10 FX today, recently hindered by the combination of a sharp pullback in WTI off earlier highs and two dovish data releases with a smaller than expected trade surplus and larger than expected decline in building permits.

Source: Bloomberg

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