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Flash: USD/CAD above 1.03 a bridge too far for the week ahead - Westpac

FXstreet.com (Barcelona) - According to Westpac FX Strategy Team, their holdings on CAD positions have been growing since mid-March.

With USD/CAD last at 1.0267 after a strong rejection from weekly highs at 1.0322, “levels where previous rallies this year have failed,” the team notes, Westpac believes it is time to start selling the pair, on hopes that “on balance model signals and event risk seem to suggest a sustained break in USD/CAD above 1.03 is a bridge too far, at least for the week ahead,” Wespac concludes.

Flash: Bernanke testimony to overshadow FOMC minutes - BNZ

Less than 16 hours away from Fed Bernanke testifying on the Economic Outlook and Monetary Policy before the Joint Economic Committee in Washington DC at 14:00 GMT, the EUR/USD is again above the 1.29 handle, last at 1.2917.
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'Black' rainstorn in Hong Kong to delay market open

The Hong Kong stock market will suffer delays on its opening today after authorities issued a “black” rainstorm warning, the highest level, Bloomberg reports. Heavy rainfalls have resulted in such decision.
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