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USD/CAD treading water below 1.3100

The greenback is posting moderate gains vs. its Canadian peer at the beginning of the week, lifting USD/CAD to the area of 1.3070.

USD/CAD bounces off 1.2900

After bottoming out in fresh multi-month lows near 1.2900 the figure last week, the US dollar has shown some signs of life, allowing spot to regain the psychological handle at 1.3000 and beyond.

The offered tone around CAD is being supported by some softness in crude oil prices, with the barrel of West Texas Intermediate easing from recent YTD peaks above the $41.00 mark.

In the data space, US Existing Home Sales are only due today followed by the speech by Fed’s Lockhart.

USD/CAD significant levels

As of writing the pair is advancing 0.40% at 1.3055 with the next resistance at 1.3306 (20-day sma) ahead of 1.3342 (200-day sma) and then 1.3596 (38.2% Fibo of 1.4692-1.2919). On the other hand, a break below 1.2919 (2016 low Mar.18) would open the door to 1.2827 (monthly low Oct.15 2015) and then 1.2124 (monthly low Jun.16).

Currencies disobey their central bank masters – Danske Bank

Research Team at Danske Bank, suggests that the currency moves to the central bank decisions in March have been remarkable as the central banks seem less interested in targeting their own currencies.
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The spectre of Brexit: An acid test for CEE – SocGen

Research Team at Societe Generale, suggests that the nuances and risks to the perceived halo of the CEE region are of paramount importance, particularly as the region swung into focus post-ECB.
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