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Jan 12 - 01:55 PM

USD/CAD - Finds Support By 200-DMA At 1.2501 After USD Longs Unwind Post-CPI

By Paul Spirgel  —  Jan 12 - 11:45 AM
  • USD/CAD slips 0.5% to 1.2505 into Lon close; Wed range 1.2580-1.2504

  • USD broadly weaker after US CPI move to 40-yr high disappoints USD bulls

  • BoC seen hiking at Jan 26 rate meeting BOCWATCH aids CAD lift

  • Commods rally amid inflation rise, global recovery; oil +1.6%, copper +3.5%

  • Support at 1.2501, the 200-DMAthen up trendline off Jun-Oct lows by 1.2449

  • Res at daily cloud base by 1.2571 (fmr supt), then falling 10-DMA by 1.2671

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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