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Forex: USD/CAD surges after Canadian CPI, retail sales

The loonie weakened further against the greenback after the latest string of Canadian data showed consumer prices grew less than expected in January, while retail sales declined 2.1% in December.

USD/CAD broke above recent highs at the 1.0200 area and stretched toward a fresh 7-month high of 1.0230 on the data. At time of writing, USD/CAD is trading around 1.0220, recording a 0.4% gain since opening.

As for technical levels, above 1.0230 next resistances could be found at 1.0250 (High Jul 12) and 1.0300 (psychological level). On the flip side, supports are now seen at 1.0160 (intraday lows), 1.0140 (100-hour SMA) and 1.0100 (psychological level).

Forex Flash: Upside remains limited for NOK – UBS

“Given that government balance sheets across the Euro area remain distinct, the fiscal strength of the Euro area as a whole still rests in large part on its most vulnerable member states.” With the fiscally weakest small member states now covered by support programs, the focus has shifted to larger Euro area countries with fiscal challenges, since their potential fiscal needs exceed the current size of the European fiscal rescue facilities.
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Forex: EUR/USD remains in sub 1.3200 levels

The shared currency holds the red territory on Friday, meandering around the area of 1.3180 after the repayment figures of the second 3-year LTRO were lower than expected according to the ECB, €61.1 billion...
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