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Flash: USD/CAD in focus with busy calandar– TD Securities

FXstreet.com (London) - It’s day one on the job for Poloz today and research teams at TD Securities say that with month-end out of the way, markets can get back to the issue at hand.

US data releases are in focus and TD Securities explains that the market will wonder whether these numbers will support indications from the Fed (reiterated again this morning by San Francisco Fed President Williams) that QE could be reduced later this summer There is a lot of data on tap for Canada and the US this week, culminating in the employment reports for both countries. Their teams say that today, the focus will fall on the ISM data after last week’s robust Chicago PMI result suggested upside risks to the data. Stronger US data should be USD-supportive.

Flash: New Zealand strategy profile – Westpac

According to Global FX Strategist Sean Callow at Westpac, “A near empty local calendar keeps the focus off shore, where the USD should be firm enough to cap NZD/USD rallies in the mid-0.8100s – indeed a spec market still trimming longs opens up a run towards 0.7800.”
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USD/CAD in session lows around 1.0335/40

The USD is now intensifying its decline, dragging the pair to fresh intraday lows in the area of 1.0330/35 on Monday, ahead of the US ISM Manufacturing PMI for May....
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