Published at 12:41 (GMT) 31 Mar
USD/CAD is slammed back down to 1.1000, where once again we are met with strong buying interest to keep Friday's low intact. Jan's Canadian GDP was expect to produce a 0.4% gain on the month, but a 0.5% print has seen the CAD back on the front foot. Despite holding this level, the readiness to buy CAD suggests move downside to come, and in our earlier commentary suggesting a EUR/CAD sell, the down-move here may already be in play. A 1.5162 low represents a 1 cent drop from the highs, but a 1.5073 breach is needed to get the momentum types interested.
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