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USD/CAD – Loonie Slightly Lower After Oil Drop

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The USD was under pressure at the start of the week, but the CAD was not of the currencies that capitalized on the big dollar’s pain. Commodity prices tumbled and with that any hopes of loonie gains. Safe haven trades such as EUR, JPY and gold advanced against the USD. The CAD got a temporary boost from positive economic data with December’s building permits doubling expectations with a 11.3 percent gain after a disappointing 19.9 loss on the previous month. The Bank of Canada (BoC) Deputy

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