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USD/CAD: More volatility ahead - TD Securities

FXStreet (Barcelona) - Shaun Osbourne, Chief FX Strategist at TD Securities suggested there is still a little more volatility in the market to come this week perhaps.

Key Quotes:

“Friday’s Canadian employment report is expected to show a decent rebound in jobs in September but the broader trend in jobs growth will stay fairly sluggish and our views expressed earlier in the week remain relevant here, we think—it’s the broader tone of the USD that is driving the USD/CAD bus at the moment, not domestic Canadian issues."

"Crude oil prices are a case in point; WTI remains under pressure after yesterday’s US oil inventory data showed a large build up on the week. Ordinarily, weaker crude prices might have had a bigger and more obvious, negative impact on the CAD…Persistently weak oil prices cannot be ignored in the longer run but in the short-term, it is the broader USD tone that will drive USD/CAD."

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