A Subdued Start To A Big Week

The US dollar initially extended its pre-weekend gains against the Canadian dollar and rose to a little through CAD1.2735 before sellers emerged (FXC) Still, the greenback has not been able to distance itself from the CAD1.27-level, where an option for about $600 mln expires today.  Initial support is seen near CAD1.2680.  A break of CAD1.2650 signals a re-test on the CAD1.2600 area briefly seen last week for the first time since April 2018.  Similarly, the greenback tested MXN20.00 at the end of last week and early today before slipping lower.  Support near MXN19.85 has been tested.  A break of the MXN19.72-MXN19.77 band would likely signal another run at MXN19.55.  

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Read more by Marc on his site Marc to Market.

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