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Instrument: USDCAD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.27200 with take profit at 1.27375.
Bearish Preference:
A Sell position is envisaged if price trades below 1.27016 with take profit at 1.26845.
Fundamentals:
No major Fundamental
Comment:
Against the backdrop of eroding fundamentals, markets become increasingly sensitive to political risks as their capacity for inducing market-wide volatility is amplified Both CAD and local bond yields suffered as monetary policy was loosened while the capacity for fiscal policy support was constrained. As it happens, cutting back government spending at this difficult time ended up costing Mr Harper his job.
Analysis: SCRUM Team
