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Forex Flash: US data may be USD/CAD-positive this week – TD Securities

The US will be on focus in the days ahead (retail sales tomorrow, CPI and IP on Friday) as Canada calendar is empty for the rest of the week. “Positive US data is now constructive for the USD, so TD’s forecasts more active than expected consumer activity and slightly higher inflation suggests data developments this week could be USD/CAD-positive", wrote analyst Shaun Osborne and Greg Moore.

TD Securities analysts see USD/CAD momentum gradually fading as the pair consolidates well within the range of the past two trading days: "Without a catalyst it should be hard to crack the key 1.0250 and 1.0315 levels for now", they wrote, pointing to 1.0215/20 initially in case of a break lower, while 1.0330/40 is the next topside level to watch.

European markets higher, FTSE 100 up despite UK data

The German DAX 30 (-0.22%), the French CAC 40 (0.01%), the Italian FTSE MIB (+0.36%) and the Spanish IBEX 35 (+0.12%) are edging higher on the day. Even the British FTSE 100 trades higher, by +0.07%, despite UK data releases on industry and manufacturing.
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Forex: EUR/USD treading water at 1.3000

The bloc currency remains trapped around the psychological level of 1.3000 on Tuesday, extending its congestion pattern since the opening bell in London....
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