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In the start of the New Year, Canadian dollar touched new multi year low against US dollar.
- Currently pair is supported above 1.4200 levels and trading at 1.4233 levels.
- Likewise Canadian dollar, UK pound also depreciated and supported just above 1.4500 handle. Pair is currently trading at 1.4528 levels.
- However, the empty macro calendar in China offered some relief, and stock markets extended their slide at a slower pace, while the energy sector led the bearish run.
- According to the latest data, crude oil sank to the fresh twelve-year low at $31.07 per barrel amid a supply glut and weaker demand from slowing China.
- Later today, the Bank of Japan Governor will speak in Paris in a panel discussion called Monetary Policy, Financial Stability and the Zero Lower Bound, along with the Bank of England Governor Mark Carney. It will give further directions to the respective pair.
