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USD/CAD Loonie Awaits Employment Data in US And Canada

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Loonie briefly touched 12 year lows against the USD as the price of energy kept falling and the volatility of the Chinese stock market caused waves around the world. The USD/CAD traded at 1.4170 but started to depreciate as the price of oil recovered and Bank of Canada Governor took the stage in Ottawa. Governor Stephen Poloz said that the impact of the currency will be felt beyond the resource sector. Given how heavily Canada relies on the commodities industry its not surprise that the

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