NAFTA reminds the driving force for...>

DOLLAR-CANADA: NAFTA reminds the driving force for the loonie, with Canadian PM

Trudeau continuing to fight his country's corner & reports from the Canadian

Free Press suggesting that U.S. President Trump's team "has backed away from its

contentious demands for lucrative procurement projects."

- However, A CBC reporter noted overnight that their sources suggest that the

latest round of trade talks "were "frank" "steady" & "slow". Agriculture,

including Canadian dairy was discussed, as was Chapter 19. If there's going to

be a break through this week, it needs to happen tomorrow," owing to Canadian

Foreign Minister Freeland's schedule.

- USD/CAD last trades at C$1.2920, after briefly breaching C$1.3000 on

Wednesday, with the pair maintaining the recent downtrend. Bears target the

200-DMA & channel base support (C$1.2864/46), a break of which would suggest a

large topping pattern is unfolding. Bulls look for a break back above the 50-DMA

(C$1.3067).

- Canadian CPI & retail sales provide the highlight of this week's domestic

docket when they hit on Friday.