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USD/CAD firmer, eyes on 1.1360

FXStreet (Edinburgh) - The greenback is now pushing higher vs. its Canadian counterpart, lifting USD/CAD beyond 1.1350.

USD/CAD picks up pace with Poloz

The Loonie is losing the grip again on Monday following the dovish tone from Governor S.Poloz’s speech. The central banker admitted that low rates will remain for longer, with no rush to start the hiking cycle, even in case the excess capacity is absorbed. Regarding inflation figures, he said the current stimulus programme is enough to push consumer prices to the vicinity of the 2% target in about 2 years. Poloz repeated that the current domestic labour conditions show a material slack in the economy and argued that a solid expansion in the exports sector will be key for the next phase of the business cycle.

USD/CAD levels to watch

As of writing the pair is advancing 0.65% at 1.1340 and a surpass of 1.1385 (2014 high Oct.15) will open the door to 1.1400 (psychological level). On the other side, the immediate support lines up at 1.1264 (low Nov.3) ahead of 1.1227 (Tenkan Sen) and then 1.1183 (low Oct.31).

AUD/NZD near 1.1300 ahead of key events in Australia

AUD/NZD is slightly lower on Monday, trading below 1.1300 ahead of the RBA decision and before economic data from Australia.
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NFP to fuel stocks & USD to the upside; EUR/USD at 1.2370, even at 1.2043

Experts are watching closely October NFP data on Friday as much of the data published this month has been very positive including the Chicago PMI on Friday and Monday's ISM.
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