Forex Investment and Currency Trading

Few directional or material deal flows noted in USD/CAD during the overnight session.
Prices drift lower in London due to broader-based USD weakness.
Resistance at 1.0066 and 1.0080 is expected to attract short-term selling pressure for a pullback to support at 1.0027 and 0.9998.

Overnight FX Trading Activity:
Asia: USD/CAD traded lower during a quiet overnight session, as broad-based [...]

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The lengthening list of downside USD/CAD risks includes Canada’s sharply improved terms of trade (ratio of exports to import prices). M&A inflows might provide the spark for a move lower.
Canada’s energy future, be it oil or natural gas, is decidedly unconventional. The economics of unconventional resources depend crucially on persistently high prices.

Portfolio Inflows Belie Stability [...]

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The BoC might not deliberately “talk up” CAD in either next week’s rate announcement or in the Monetary Policy Report Update. However, recent commentary from BoC Governor Carney leaves the clear impression that another inflation-busting CAD rally would be a welcome development.
Along with a sharp improvement in Canada’s terms of trade, downside risks to USD/CAD [...]

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