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Mazen Issa, Senior FX Strategist at TD Securities, suggest that the CAD will enter the limelight with GDP data in view.

Key Quotes

“The CAD is probably more vulnerable to slippage than a positive surprise in the data, especially given the soft backdrop for oil prices. Here, we note that the knock-on effects of weak oil onto capex and curve pricing will be more important for CAD. Overall, CAD rallies are likely to be shallow for now.”