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Forex: USD/CAD flat around 1.0030

FXstreet.com (Barcelona) - The cross is posting weekly losses for the third consecutive time so far, as the Canadian dollar has been appreciating against the greenback since April tops in the boundaries of 1.0300.

G.Moore and S.Osborne, FX Strategists at TD Securities, commented “We remain cautious but the time may be a little riper for a bounce now as short-term oscillator studies are more obviously “oversold”. Gains through 1.01 would be a plus from a broader point of view while a rise above 1.0140/50 would be very constructive”.

The cross is now up 0.02% at 1.0030 with the next resistance at 1.0059 (high May 8) ahead of 1.0080 (MA10d) and then 1.0083 (high May 7).
On the flip side, a dip beyond 1.0014 (low May 9) would bring 0.9995 (high Feb.5) and finally 0.9971 (low Feb.8).

Forex Flash: EUR/USD faces headwinds, sustained upleg difficult – Westpac

In terms of noteworthy data releases, the upcoming May German ZEW (Tue) likely to firm, given ongoing decline in EZ stress indicators. Q1 German GDP should match expectations for a 0.3% rise given stronger IP data late in the quarter.
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Forex: GBP/USD stable around 1.5500

The sterling gave away all daily gains and submerged into the red territory on Thursday, falling from session highs around 1.5590 to the vicinity of 1.5480, albeit recapturing the 1.55 handle as of writing...
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