CIBC: FX: USD CAD

 From the FXWW Chatroom: A lot of things are lining up the right way for the CAD. First, commodity prices (including oil) have been buoyant – supported by the increase in optimism amongst manufacturers globally. Second, domestic data in Canada has been on fire with manufacturing activity registering impressive gains for two straight months, while goods trade is also back in the black. Third, foreigners looking to escape from political risk have taken comfort in Canadian assets which are shielded from uncertainty in this area, and the implications of the Trump administration’s policies. Finally, seasonality is also supportive as the February-April stretch has historically been kind to loonie bulls. While the CAD should stay well supported into this month, investors would be wise to take out some insurance to protect against one-off risks as costs remain reasonably cheap at this point.
14/2 highs 1,2548 cable … then 1,2580
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