The recovery from late Thursday lows in core global FI helps bias Euribor futures a little firmer in the main, with contracts through the greens running 0.5-1.5bp richer.
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The uptrend in USDCAD remains intact and the pullback from last week’s high is considered corrective. Moving average studies are in a bull-mode position and resistance at 1.3655, the May 26 high, has been cleared. A resumption of gains would expose 1.3718, a trendline resistance drawn from the Oct 13 2022 high and the next key resistance. Key support has been defined at 1.3490, the Sep 1 low. A break would signal a short-term top.