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Forex: USD/CAD toying with 1.0130

The Canadian dollar is accelerating its negative momentum against the buck on Tuesday, flirting with the 1.0130 level and printing fresh 7-month lows at the same time.

Ahead in the day, the Canadian docket will release the Canadian Portfolio Investment and the Wholesale Sales (expected to contract 0.4% in December).

At the moment, the cross is gaining 0.21% at 1.0128 facing the next hurdle at 1.0132 (low Jul.23) ahead of 1.0135 (61.8% of 1.0446-0.9633) and then 1.0200 (psychological level).
On the downside, a breach of 1.0055 (low Feb.18) would expose 1.0035 (MA10d) and then 1.0015 (MA21d).

European markets cheer positive ZEW survey

The German DAX 30 (+0.82%), the French CAC 40 (+1.00%), the Italian FTSE MIB (+0.72%) and the Spanish IBEX 35 (+0.42%) are edging higher on Tuesday like the rest of the European equity indexes after the ZEW survey reading, quite surprising in February.
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Forex Flash: Deciphering the yen is not straightforward – ANZ

It has been very fashionable to pin the blame for the late January rally in USD/Asia on yen weakness. While there is no doubt that a weak yen will have an impact on relative competitiveness in the Asian region, the impact on the region’s currencies is not that straightforward.
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