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BOC Business Outlook Survey, released about an hour ago, was upbeat on the economy. Rate hike odds ticked further up. USD/CAD, however, is in the process of correcting Friday's outsized fall. 1.24 is the initial support and 1.245 the resistance.
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U.S. data and BOC outlook worth watching
Main economic event in the week ahead is probably the release of U.S. CPI and Retail Sales data for December, on Friday. Add to that U.S. PPI on Thursday. Monday's BOC Business Outlook Survey will be the bank's last communication before eagerly awaited monetary policy decision on January 17th.