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USD/CAD eyes move back towards low 1.2700s ahead of speech by BoC Governor MacklemNEWS |
12/15/2020 3:56:26 PM GMT
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By Joel Frank
USD/CAD has slipped back below 1.2750 and into the 1.2730s with the loonie performing well amid perky crude oil prices.
The pair seems to be consolidating within a pennant and a downside break could trigger a move below 1.2700.
USD/CAD has been trading with a downside bias in recent trade and the pair has dropped below the 1.2750 level into the 1.2730s, a decent reversal from Monday’s highs around 1.2790. A pick up in sentiment in US equity and crude oil markets seems to be helping the loonie, whilst Canadian Housing Starts (Nov) and Manufacturing Sales (Oct) data was largely ignored. ....

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