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Canadian Dollar Reversal On Tap, EUR/CAD Threatens Upward Trend i Episode info

  • June 29, 2011
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Canadian Dollar Reversal On Tap, EUR/CAD Threatens Upward Trend

The Canadian dollar rallied on Wednesday as the faster-than-expected rate of inflation heightened speculation for a rate hike in 2011, and the loonie may continue to recoup the losses from earlier this month as interest rate expectations gather pace. At the same time, the EUR/CAD continues to threaten the upward trend from earlier this year as it pares the three day rally, but sharp decline could serve as a buying opportunity as long as the pair crosses back above the 50-Day SMA at 1.3963.

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