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- “There is not a whole lot going on USDCAD in the overnight session and we do not expect today be very active, if, much at all”.
- “The 1.31/32 region looks to be the near-term consolidation range established through last week, and despite a brief collapse to 1.3049 on Friday following the payrolls volatility, we think the range will hold”.
- “There are not many event risks this week with housing starts and manufacturing sales the major economic releases in Canada”.
- “In the US, retail sales and industrial production on Thursday and Friday respectively will be the focal data releases. So, all in all, there is not much of a catalyst for USDCAD to breach the range noted above”.