By Paul Spirgel — Dec 27 - 09:35 AM
USD/CAD -0.45% to 1.3510 in early NorAm; Tues range 1.3575-1.3507
CAD liquidity light as Canadians celebrate Boxing Day
Commods bid on news China will further reduce COVID restrictions in 2023
U.S. treasury yields a tad higher into year-end supply
Oil hits three-week high as China eases COVID curbs nL1N33H016
$CAD probes below 1.3517, 50% Fib of 1.3226-1.3806
A close sub-1.3517 puts daily cloud base 1.3465, then 100DMA 1.3419 in focus
Resistance at 55-DMA by 1.3558, Tues high 1.3575 then 10-DMA 1.3610
China Re-opening trumping U.S. rate dominance heading into new year
Source:
Refinitiv IFR Research/Market Commentary