While many markets try to stabilise, commodities are finding a small bid. Crude oil has posted higher lows consistently since basing last week and base metals are holding up, with the laggard of the complex, aluminium posting a key reversal day amid bullish momentum divergence. This in turn is expected to underpin strength in commodity currencies as they stay buoyant. USD/CAD below 0.9765 would likely signal that a leg lower is underway.
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