 | |  | | USD/CAD, EUR/CAD Flows - CAD range bound and unlikely to break out for now
2007年6月20日 6:22:00
CAD continues to search for direction, short term. Most longer term players are sitting long CAD and will probably add to positions on weakness. CAD is still getting support from the rise in commodity prices, the perceived high odds of a BoC rate hike on 10 July and ongoing M&A flows that seem to be netting out positive for CAD. Today's release of leading indicators is likely to generate little if any market reaction unless well off the 4Cast and market guestimate of 0.5%. With hot money still seen long CAD, technical levels are even more important. USD/CAD resistance is seen at 1.0676 and support is down at 1.0600. EUR/CAD, should be watch closely, with its range defined by resistance at 1.4231 and resistance up at 1.4389. |  |  |  |  |
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