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Holds near the base of its narrow.....>

DOLLAR-CANADA: Holds near the base of its narrow C$1.3164-1.3206 range ahead of
key data release at the bottom of the hour. BOC's MonPol decision is due up with
the Bank seen on hold by almost all of those surveyed. Markets have almost fully
priced in a 25bp hike at the Bank's Oct decision, so focus will fall on the
rhetoric employed & the degree of uncertainty caused by the latest round of
NAFTA talks. Canadian trade balance and labour productivity data for July and Q2
respectively, also hit the wires. The trade balance deficit for June was C$0.6bn
and is expected to widen in July to C$1.2bn. On a q/q basis, labour productivity
declined by 0.3% in q1. NAFTA conversations are due to restart with headlines
expected to drive. USDCAD last C$1.3175. 

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