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Fundamental Analysis
USD/CAD
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[QUOTE="HotForexsignal, post: 160521, member: 58463"] [B]USD/CAD regains certain traction, strengthens auxiliary once more mid-1.3100s[/B] [I]The overnight reprieve of softer Canadian CPI continues to weigh going regarding for the domestic currency. Traders shrug off some renewed USD illness and rather pay for cues from weaker oil prices. Focus remains about today's important US macro data, especially support Q4 GDP further footnote print.[/I] After an initial dip to 1.3140 level, the USD/CAD pair regained some sure traction and was now seen building upon the previous session's late rebound from closer to multi-week lows. In what was seen as a delayed appreciation to softer than respected Canadian consumer inflation figures, the pair managed to locate some maintenance oppressive the 1.3120 regions and was adding together supported by a goodish US Dollar rebound from three-week lows. Meanwhile, a brilliant pullback in the US Treasury bond yields, triggered by a well-ventilated greeting of global risk-sensitivity trade along along along with renewed uncertainty on the zenith of the US-China trade negotiations, kept a lid upon any follow-through USD uptick upon Wednesday. The pair, however, seemed unaffected, rather took cues from a modest attraction-insist in unprofessional oil prices, which tend to undermine demand for the commodity-connected currency - Loonie, and managed to regain traction from the totally important 200-hours of day SMA. Currently hovering on the subject of session tops, in this area the 1.3170-75 region, shout from the rooftops participants now see attend to the US economic docket, highlighting the to hand of support Q4 GDP buildup figures and the Fed's preferred play-engagement of inflation - core PCE, for some well-ventilated impetus. [/QUOTE]
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