CAD down in the dumps on BoC survey -The......>

FOREX: CAD down in the dumps on BoC survey

-The Bank of Canada's Business Outlook Survey for Q1 prompted a bout of sharp

downside for CAD Monday, falling into negative territory for the first time

since Q3 2016. The softer business sentiment was led by weakness in the energy

industry in Western Canada, the housing sector and trade tensions. USD/CAD

surged back above the 50- and 100-dmas upon release and briefly rose back above

Friday's high of C$1.3388 before paring slightly.

-Elsewhere, it was a particularly quiet day in DMFX with most major pairs

respecting recent ranges. GBP outperformed slightly on little news as the USD

failed to pick up any major momentum in either direction. A much

better-than-expected Empire Manufacturing survey prompted some upside in USD/JPY

but the gains were quickly erased as US equity markets performed poorly.

Financials underperformed as earnings updates from Goldman Sachs and Citigroup

were poorly received.

-UK unemployment and German ZEW are the data highlights Tuesday. The RBA minutes

and speeches from Fed's Rosengren & Kaplan and ECB's Nowotny are also due.