USDCAD has not enjoyed a good end to 2017 or start to 2018 31 Jan
As month-end looms we've seen further losses this morning on USDCAD to post fresh yearly/4mth lows of 1.2283 in Europe from 1.2345 in Asian trading.
General USD supply has been a big theme but the C$ has continued to post gains with NAFTA talks still casting a shadow. Oil remains underpinned despite a few retreats and is helping the cause. BOC Poloz has highlighted the potential to cut interest rates if NAFTA turns sour but still the loonie prevails.
Option expiries today at 1.2250 and 1.2350 might help to contain range.
Canadian GDP data out today at 13.30 GMT in focus now and helping to steady the ship until the detail is released.Here's few previews:
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