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USD/ CAD Morning Update

"USD continued to push stronger against most currencies last night as weaker outlook for global growth and flight to quality supports buy USD sell everything else. CAD remained within its recent range O/N, in fact has outperformed on the crosses. Employment in CAD was +15k, slightly better than expected however we are still in a weakening trend. Next piece of the puzzle comes at 8:30am, with the release of the US Non-Farm Payrolls (NFP), expectation is for a drop of 70k-90k. This is always a volatile number some expect markets to react/over-react once we see the release. Expected range for CAD today is dependant on the NFP number, but look for key levels on the downside at 1.0600 / 1.0545 / 1.0510 and topside levels of 1.0725 / 1.0770 / 1.0800." (SC FX)
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