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Nov 10 - 07:55 AM

USD/CAD - Powell Paves Way For A Test Of The YTD Peak

By Justin Mcqueen  —  Nov 10 - 05:40 AM
  • USD/CAD realign with fundamentals following break above 1.3800

  • Moves in oil and US/CA rates had warned of a bear trap nL1N3C70NS

  • Powell's hawkish pushback underpins dollar, paves way to 1.39 for USD/CAD

  • Weekly close above 1.39 would negative last week's outside day reversal

  • Dip buyers likely to remain firm with the pair above the 55DMA (1.3643)

  • Friday's highlight includes U. of Michigan inflation expectations/CA SLOOS

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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