The CAD has taken a hit on Gary.......>

DOLLAR-CANADA: The CAD has taken a hit on Gary Cohn's resignation, USDCAD last

trades at 1.2925, back from highs of 1.2960, with today's BoC decision providing

the immediate event risk.

- The BoC is exp. to stand pat, with Trump's tariffs set to support the BoC

status quo.

- CAD has been on the back foot since early Jan, with Q4 GDP missing the "data-

dependent" BoC's forecasts on Friday.

- Discussion surrounding the increased tough trade rhetoric out of the US will

also be eyed in the statement.

- Some notable resistance levels have been cleared, with the next level of

interest through the figure at 1.3002, the high from 05 Mar, and then the upper

2% volatility band at the higher 1.3060 level and the 6 month channel top at

$1.3085. Meanwhile, key downside levels lie between 1.2869-1.2854, as this area

now protects against a deeper fall and correction of gains from 1.2615.

- Traders also await an address from BoC Deputy Governor Lane on Thursday.