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Aug 03 - 08:55 AM
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USD/CAD - Avoids Intervention Yaw, Trickles Higher On US Yield Advantage
By Paul Spirgel — Aug 03 - 08:24 AM
• $CAD firm in early NorAm, +0.08% at 1.4029; Monday range 1.4044-1.4004
• Yen-related USD selling holds no sway for CAD; CA rates subordinate to US
• IMM data Friday indicates CAD selling rose amid US-CA trade, rate concerns
• Large, growing USDCAD long ripe for reversal should US rate outlook shift more dovish
• Friday US and CA employment data in focus; the US CPI Aug 12 & CA CPI Aug 17
• $CAD res 1.4044 Mon high, 1.4064 daily cloud top, 1.4119 daily base line
• Supt 1.4004/1.4000 Mon low/psychological lvl, 1.3975 lwr
21-d Bolli, 1.3899 daily cloud base
CAD Chart:
(Paul Spirgel is a Reuters market analyst. The views expressed
are his own)
Source:
London Stock Exchange Group | Thomson Reuters