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USD/CAD trimming losses around 1.0500

FXstreet.com (Edinburgh) -The USD is reverting the positive start on Tuesday, dragging the USD/CAD from session highs in the proximities of 1.0540 to the current test of 1.0500 the figure.

USD/CAD weaker despite US data

Decent results from the US Consumer Confidence and the S&P/Case-Shiller index failed to sustain the previous USD upside, running out of steam around 1.0540. According to G.Moore and S.Osborne, FX Strategists at TD Securities, “We retain a generally bullish bias here overall but the market seems to have stalled… The alignment of positive (for the USD) trend momentum indicators across a range of timeframes still leaves …read more