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Aug 11 - 01:55 PM

USD/CAD's Post-CPI Gain Pared Amid Falling Commodities

By Paul Spirgel  —  Aug 11 - 10:57 AM
  • USD/CAD early dip pared, now -0.02% at 1.2517; Wed range 1.2548-1.2490

  • Oil slips 1% removes some of post-CPI USD weakness nL1N2PI17K

  • USD/CAD finds supt ahead of minor Fib at 1.2486, then Aug 5 low 1.2476

  • Resistance at 21-DMA by 1.2555, then falling 200-DMa by 1.2570

  • Today's US CPI solid but does little to pull fwd Fed APP taper expectations

CAD Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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