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May 11 - 01:55 PM

USD/CAD - Slips With Commod Rise, Weakness Muted Ahead Of US CPI Wednesday

By Paul Spirgel  —  May 11 - 11:52 AM
  • USD/CAD Hover near trend low -0.14% at 1.2085; Tues range 1.2126-1.2078

  • Commodity gains on upbeat global recovery tones boosts CAD

  • Oil, metal gains aid CAD rally, gains tempered ahead of US CPI Wed EM

  • Canada long-end yield rise in sync w/UST yields

  • USD/CAD decline follows daily/monthly lwr Bolli & Ma's lower

  • Support 1.2078 Tues low, 1.2063 Sep 2017 low, 1.2051 lwr 21-d Bolli

  • Res 1.2126 Tues high, 1.2221 10-DMA; bulls regain momentum into daily cloud 1.2561

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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