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Forex: USD/CAD retraces gains after ADP, BoC eyed

The loonie benefited from strong US employment data and strengthened versus the dollar ahead of the BoC monetary policy decision.

USD/CAD dropped nearly 20 pips after the data before the 20-hour SMA at 1.0270 contained the slide. At time of writing, USD/CAD is trading around 1.0270/75 where it is virtually unchanged since opening.

In terms of technical levels, if USD/CAD falls below 1.0270, next supports are seen at 1.0255 (intraday low), 1.0215 (Feb 28 low) and 1.0200 (psychological level). On the other hand, resistances could be found at 1.0295 (intraday high), 1.0310 (Mar 4 high) and 1.0341 (2013 high Mar 1).

Forex: EUR/PLN in session highs after rate cut

The Polish zloty is sharply depreciating against the single currency after the NBP (Polish central bank) surprised market participants cutting the lending benchmark by 50 bps to 3.25% against 25 bps expected, in an effort to boost the economy after recent poor fundamentals.
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Forex Flash: Dow makes new high - Societe Generale

Kit Juckes of Societe Generale notes that the Dow made a new high, the day before the fourth anniversary of the S&P hitting 666, and all talk overnight has been of the recent equity rally.
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