Broader USD strength & softer oil.....>

DOLLAR-CANADA: Broader USD strength & softer oil prices have weighed on the

loonie in recent sessions, USDCAD last deals at 1.3030, a few pips off of the

overnight high.

- Traders have the BoC MonPol decision to contend with on Wednesday & to a

lesser degree Canada's Q1 current a/c print.

- Only one of the 25 surveyed look for the BoC to hike rates today. It is a

non-MPR decision so there will not be a press conference/economic projections,

however, Dep Gov. Leduc is set to make an appearance tomorrow as part of the

BoC's relatively new idea to promote clarity of message after decisions where

the is no press conference.

- Canadian GDP will also hit on Thursday.

- MNI PINCH shows that markets are currently pricing in a further 56bp of

tightening in 2018.

- USDCAD resistance comes in the form of the 38.2% retracement of the move from

1.4690 to 1.2062 at 1.3066, with support noted at the May 28 low of 1.2960.