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Canadian Dollar gains ground against holiday-weakened Greenback

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The Canadian Dollar (CAD) is mixed on Monday, climbing against the US Dollar (USD) thanks to a quiet US market session.

Canadian Dollar climbs over Greenback but gives mixed Monday performance. Canada brings little of note to the economic calendar until Friday’s GDP release. Memorial Day holiday keeps US markets dark, leaves market volumes thin. The Canadian Dollar is mixed on Monday, climbing against the US Dollar thanks to a quiet US market session. US markets are dark for the Memorial Day holiday, leaving CAD traders to twist in the breeze and await meaningful data prints.

USD/CAD fell back into familiar congestion on Monday, extending a decline from last week’s late peak near 1.3740. The pair is set to run aground of technical support near the 1.3600 handle, with a long-term floor priced in at the 200-day Exponential Moving Average near 1.3553.

 

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