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.