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A USD/CAD Re-test of Parity May Provide Scalping Opportunity

The USD/CAD was content to trade near parity before the issues in Greece and other E.U. member nations sparked volatility across all markets. Downgrades of Portugal and Spain’s credit ratings raised concerns that a broader contagion was developing. Concerns have started to fade evidence by the strong start to equity markets. A return of risk appetite has the USD/CAD looking to re-test parity which could lead to another period of consolidation. 

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April 29, 2010 | This forex market commentary from Managed Forex Accounts website filed under Market News

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