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    USD/CAD: upward correction is possible on 24.03.2015

    USD/CAD continued to drop at the beginning of this week and is currently trading at its 3-week low at 1.2490. The Canadian dollar is currently under pressure due to various factors.  On the one hand, the manufacturing industry business activity index of China, the world's second largest economy and Canada's important trading partner, dropped to 49.2 points in March, which is lower than the threshold value of 50 points, dropping beyond which hints at a slowdown in industrial activity. On the other hand, the Canadian currency is supported by the rise in oil prices. In particular, WTI oil price has reached its 2-week highs by now.

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