Brent witnessed sharp losses..........>

DOLLAR-CANADA: Brent witnessed sharp losses yesterday and now operates in bear

market territory after closing 20% below the April peak (continuation chart)

with ongoing concerns surrounding global demand.

- USDCAD cleared the previously hard to overcome C$1.3250 level yesterday. The

uptrend spilled over into Asia with the pair briefly trading above the 200,

100-dma & cloud top (C$1.3305/08/13) to C$1.3315, before fading. USDCAD has now

registered gains in 10 of the last 14 sessions since its Jul 19 base. A close

above these key levels would further cement the move opening the 61.8%

retracement level of the May-Jul fall at C$1.3355.

- EURCAD rallied through C$1.49, before meeting resistance ahead of the 100-dma

at C$1.4943. Worth noting we have not closed above this key level since early

June.