Canadian dollar: Everyone is backing further CAD advances, so watch out for potential squeezes

The Canadian dollar (Currency:CAD) is looking rather frail as we head towards the US session. "Further signals of slowing global activity—with another softer Chinese PMI and a sharply wider Australian trade deficit—fuelled a typical risk-off session in Asia. And while we’ve seen a decent retrace of those moves in the European session, risk currencies—including the CAD—are on net still lower ahead of the North American open," says Shaun Osborne at TD Securities.

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