USDCAD Technical Analysis - We are back at the key support zone ...Middle East

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USDCAD Technical Analysis - We are back at the key support zone
Fundamental OverviewThe USD got a boost last week from the strong US PMIs which lifted Treasury yields and put in question the rate cut in September. Once the market digested the report though and saw that there was more good news on the growth side than bad news on inflation, the USD strength faded as the risk-on sentiment ensued. The CAD, on the other hand, got pressured from the weaker than expected Canadian CPI figures which raised the chances of a rate cut in June (although it remains basically a coinflip). The risk-on sentiment though is supportive for commodity currencies like the CAD, so if it this were to continue, we could see even more gains ahead. USDCAD Technical Analysis – Da

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