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USD/CAD: FOMC minutes are key - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that CAD appears vulnerable following its sizeable rally from late September, with near term risk centered on the release of Fed minutes at 2:00pm EST.

Key Quotes:

"CAD correlations to typical drivers (oil prices, relative central bank policy) appear to be reasserting themselves, as we note an ongoing sensitivity to the broader tone."

"We see the Fed minutes as the most important near term risk for CAD, given the potential for a re-assessment of the view that has provided for broad-based USD weakness since last Friday’s disappointing U.S. employment release".

USD/JPY key range 118.50-121.00 - BTMU

Analysts at Bank of tokyo Mitsubishi explained that after last week’s disappointing NFP report USD/JPY tested key technical support from its 55-week moving average at 119.30 which is holding for now supporting our neutral bias for the week ahead.
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USD/CAD resumes the fall, hits fresh daily lows

USD/CAD is back headed south, printing fresh lows for the day as oil prices underpin the loonie and the greenback weakens across the board ahead of the release of FOMC minutes.
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