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The crash in oil prices sent the Canadian dollar to a new 11 year high and also had a dampening effect on the Aussie. We discussed the reasons and the future economical and geopolitical implications for this move. Where is the bottom of the barrel? Japan is actually not in recession according to the new data and this supports the yen. China's trade balance is worrying, but the level of anxiety is far from where it used to be in the summer. EUR/USD is showing resilience by bouncing back up. We examined technical lines in GBP/JPY and AUD/CHF among other ones.

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