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USD/CAD focus on oil and PMI

The USD/CAD pair is coming down from yesterday’s multi-day peaks above the 1.3200 mark, bolstered by a sudden recovery of crude oil prices while the USD seems to have lost some upside momentum.

Ahead in the day, Canadian PMI tracked by Ivey is due ahead of the weekly report on crude oil inventories gauged by the EIA. It is worth noting that API reported crude stockpiles have decreased by 4.3 million barrels during last week (Tuesday).

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