CAD continues to trade at the back....>

DOLLAR-CANADA: CAD continues to trade at the back and call of NAFTA headlines.

- Wednesday afternoon saw comments from Mexican EcoMin Guajardo, as he noted

that he believes that there is a "high chance" of a U.S.-Canada trade deal. This

allowed USD/CAD to fall to a low of C$1.2981, despite RTRS source reports

suggesting that the best possible outcome is a deal in principle next week.

Firmer oil prices also aided CAD.

- Recent remarks from Canadian Foreign Minister Freeland show that she will not

be returning to discussions with U.S. TR Lighthizer until Canadian & U.S.

officials have conducted more work.

- USD/CAD trades at session highs of ~C$1.3010 as a result.

- A rise back above the 50-DMA (C$1.3085) is needed to return the focus to the

upside and keep the bigger picture positive trend intact. The close below the

21-DMA has allowed bears to target the 200-DMA and channel base support at

(C$1.2860/46).