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USD/CAD buyers could defend SMA crossover

The advance in USD/CAD prompted its 100-hr SMA to cross above the slower 200-hr SMA.

The low prices printed on hourly charts are at a converging distance to the “Golden Cross”. This price level is likely to underpin the USD/CAD rate as buyers find support at the confluence. The risk scenario is set once a close beyond the 200 SMA is printed.

China Caixin Manufacturing PMI registered at 48.6 above expectations (48.3) in October

China Caixin Manufacturing PMI registered at 48.6 above expectations (48.3) in October
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Caixin China Nov manufacturing PMI beats estimates

The activity in the China’s manufacturing sector continues to improve in November, although remains in the contraction territory for the ninth straight month. The Caixin China Purchasing Manager's Index rose to 48.6 in November, up from 48.3 in October.
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