The loonie has returned to the........>

DOLLAR-CANADA: The loonie has returned to the bottom of the G10 pile after

underperforming its peers yesterday. USD/CAD sits at C$1.3169, 10 pips higher.

- The rate skyrocketed yesterday as the BoC announced their monetary policy

decision. Members decided to stand pat on policy, but downgraded 2020 growth

estimates and revealed that they have begun to consider a so-called 'insurance'

rate cut (albeit decided against it this time).

- At the same time, CAD faced pressure from fading WTI prices, driven by an

unexpected build-up in U.S. crude stockpiles coupled with smaller than forecast

declines in gasoline and distillate inventories.

- Worth noting that spill in North Dakota resulted in the shutdown of the

Keystone pipeline, which allowed oil prices to tick away from lows late doors.

- Bulls look for a jump onto the C$1.3200 handle after the rate showed above the

round figure yesterday. This would open up the 100-DMA/yesterday's peak at

C$1.3204/08. Bears need a retreat under the Sep 10 trough at C$1.3134 to gain

some downside momentum.

- Canadian GDP comes out later today.