After flerting with par last week, the CAD continued its retreat against the USD due to weaker commodity prices as the risk trade comes off. Also, news that Canada’s factory sales fell 0.6% in September after a 2% advance in the prior month will keep the Bank of Canada on the sidelines. The 200 day moving average, which is presently in the 1.0290 to 1.03 area, should halt the CAD's decline.
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