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Aug 25 - 05:55 PM

USD/CAD - Gain Pared As Risk Rallies Ahead Of Thursday Data, Key Fed Summit

By Paul Spirgel  —  Aug 25 - 03:57 PM
  • USD/CAD ending NorAm +0.08% at 1.26, Wednesday range 1.2643-1.2589

  • Pair revered early NorAm gain as risk rallied into NY close

  • Thurs jobless claims, PCE & Q2 GDP estimate will hint at degree of recovery

  • Commodities copper and oil rally in NY afternoon pares USD rise

  • Support ahead of 21-DMA by 1.2574, then 200-DMA/daily cloud top at 1.2548

  • Res at 10DMA by 1.2639, 1.2658 Aug 24's high, upper 21d Bolli by 1.2768 caps

  • CAD more resistant to hawkish Fed yaw as BoC has already begun to taper

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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