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Wednesday, October 25, 2006
USD/CAD: Easier After Data; Commodities Rise
USD/CAD has eased to session lows in the wake of soft US housing data and a bounce in commodities. A drawdown in US crude inventories is helping rally crude prices while gold has recouped most of its morning losses on the weaker USD tone. Support lies near 1.1250 near-term while better support is at 1.1205. 1.1285/90 is resistance.
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