USDCAD is testing resistance between 1.3280-1.3300 9 Jan
Oil prices falling have given a lift-up for USDCAD to post 1.3278 from 1.3230 but there's decent resistance/offers ahead after Friday's data-led falls. CADJPY selling also in the mix.
WTI currently $52.90 from $53.80 with Brent $55.93 from $56.85
In the mix also is the BOC BOS due at 15.30 GMT. The Business Outlook Survey released by the Bank of Canada measures the business outlook in Canada as derived from a survey of about 100 selected businesses which asks respondents to rate the relative level of general business conditions.
Tor Dom Securities expect an upbeat assessment:
"After noting that activity had bottomed out by Q3, capex plans for energy producers have affirmed that view with many slated to increase investment in 2017. The BOS may also provide colour into manufacturing sentiment in response to protectionist measures being floated in the US.
We also look for any commentary relating to the auto sector, which has come under great scrutiny by the President-elect."
USDCAD currently 1.3270. Full order board here
