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Crude Oil Rally helping the CAD
The US Dollar was bearish against all of its major pairs on Wednesday. It was a busy day on the U.S. economic data front, the Mortgage Bankers Association's Mortgage Applications jumped 3.9% for the week ending November 20th, compared to -0.3% in the week before. Initial Jobless Claims unexpectedly rose to 778K for the week ending November 21st (730K expected), from a revised 748K in the previous week. Continuing Claims fell to 6,071K for the week ending November 14th (6,000K expected), from a revised 6,370K in the prior week. Wholesale Inventories rose 0.9% on month in the October preliminary reading (+0.4% ... (full story)