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CA: buy USD/CAD ahead of retail sales

Strategists at Credit Agricole recommend buying the USD/CAD pair, targeting 1.0690 (July 5 high) in the near term. In their view, yesterday's break above 1.0445 (August 7 resistance) is a strong bullish signal. 

Analysts expect Сanada's June retail sales data (12:30 GMT) to pressure the loonie. Friday's CPI figures are also expected to create support for USD/CAD.

Chart. Daily USD/CAD


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