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Forex Flash: Loonie ready for a decent pullback - TDS

Carried on rising oil prices, the Loonie had a +0.52% advance against the USD by the NY close overnight, leaving behind a double high in the USD/CAD pair around 1.0337 from early March, last around fresh 3-week lows 1.0217.

Despite this move, “We continue to be broadly bearish on the CAD for the coming months,” said Toronto based TD Securities analyst Greg T. Moore, adding: “but the potential for a positive turn in Canadian data combined with massively short speculative positioning could be a recipe for a decent pullback in the near term,” he suggested.

Forex: EUR/JPY hovering around 125.00

Few minutes away from the Tokyo open and later Japan's upper house vote on BoJ nominees around 01:00 GMT, EUR/JPY is last at 125.01, slightly in the positive for the week so far, recovering from fresh weekly lows around the 124.06 in mid Asian session yesterday on the back of combined Euro weakness and Yen strength. The cross is off a double past Friday's/Tuesday's high at 126 round, with high expectations on the BoJ nominees voting coming.
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Forex: EUR/USD, watch for selling clues at 1.3100-1.3150 for retest of 1.2900 - 2ndSkies

After blowing a series of intra-day areas of supply through 1.2950, followed by 1.2980 and 1.3010/15, the EUR/USD has managed to ease some bearish pressure. EUR/USD printed a new year low at 1.2910 earlier on Thursday, before the upside recovery, which may be described as a short-covering aimed at getting better value areas to sell from, one may think.
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