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Forex Flash: USD/CAD more bullish in the near-term – TD Securities

FXstreet.com (Barcelona) - FX moves have been relatively mild, suggesting caution rather than concern among investors and the view that contagion from Cyprus can be contained, according to TD Securities analysts. In regard to the CAD, the budget news from Ottawa yesterday did not add any additional information to the CAD picture but did reaffirm Canada’s solid AAA credentials in a world where that is an increasingly rare attribute. “The underly-ing picture of slow domestic growth at present remains, however, and we rather think that the CAD is liable to softens modestly versus the USD in the near-to-medium term as a result”, wrote analysts Shaun Osborne and Greg Moore, a bit more bullish on the hourly/6-hourly charts. “Potential inverse H&S continuation pat-tern, with good support emerging this week on the dip to retracement support at 1.0180/85”, they added, pointing to more upside momentum above 1.0275/80.

Forex Flash: Cyprus situation an interesting turn – Deutsche Bank

Recent reports suggest that the Cypriot government is tabling legislation, which will restructure Popular Bank and impose transaction restrictions across the country's banking system. The core part of the government's bank resolution proposal is a splitting of Popular Bank into a good and bad bank.
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Forex: USD/CAD crosses over into negative territory at 1.0240/46

The USD/CAD has been edging lower, after an earlier attempt at the upside was stonewalled at the 1.0255 region. In recent minutes, the pair has surrendered its gains on the day and descended towards the 1.0240/46 area at the time of writing. At this juncture the cross is recording a minor loss of -0.06% Friday.
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