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Expiries for Mar 03 NY cut 1000ET (Source DTCC)


Focus On Tomorrow's Budget

DOLLAR-CANADA: VIEW: Goldman Sachs note that "USD/CAD broke below a few key
levels last week as a pro-risk rotation across markets supported higher-beta
currencies. But we continue to expect any further rally to be short-lived. The
Bank of Canada will likely ease policy in the coming months, and Canada still
has domestic fragilities - housing market risks, energy sector recession - as
well as other less favorable fundamentals than other economies with similar
currency drivers (e.g., NOK). As a result, we are revising up our USD/CAD
12-month forecast slightly, as well as revising down the 3-month forecast given
the extent of the recent rally. Our new forecast path is: 1.40, 1.37, 1.32 in 3,
6, 12 months (vs. 1.42, 1.37, 1.30 previously)."
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