USD/CAD bounces back from a fresh monthly low (1.2565) as it snaps the series of lower highs and lows carried over from last week, but the exchange rate may continue to give back the advance from the yearly low (1.2450) as it trades below the 200-Day SMA (1.2608) for the first time since January. USD/CAD appeared to be unfazed by the recent comments from Federal Reserve Chairman Jerome Powell as it failed to defend the opening range for March, and the commodity bloc currencies may continue to outperform their major counterparts over the remainder of the month amid the improvement in risk appetite. The recent decline ... (full story)