CAD rallied sharply vs. all other G10 FX on...>

FOREX: CAD rallied sharply vs. all other G10 FX on Monday, topping the table for

a second consecutive session, following the affirmation of a trilateral trade

deal between the U.S., Mexico & Canada. USD/CAD broke comfortably below the

200-DMA, closing below that particular average for the first time since April.

USD/CAD bears now eye the mid-April lows of C$1.2528 as a longer-term target.

- Elsewhere, the major FX space had a relatively inside day, though EUR

underperformed on further Italian budget woes, pressing EUR/USD back < $1.16.

- GBP was briefly supported by a BBG report indicating that the UK is ready to

concede on customs checks between N Ireland & the UK to cement an exit deal, but

the move was short-lived. The Times has recently reported that PM May is

"preparing to limit Britain's ability to strike free-trade deals after Brexit in

a sig. concession to the EU aimed at breaking the deadlock in negotiations." 

- USD/JPY had a brief look above Y114.00, but failed to close there.

- NZD/USD is under some pressure on the back of a soft NZIER biz. survey.

- Focus Tuesday turns to the RBA rate decision and speeches from BoE's Haldane &

Haskel, as well as Fed's Powell, Quarles & Kaplan.