The loonie tracked gold & oil.........>

DOLLAR-CANADA: The loonie tracked gold & oil overnight, edging lower, with the

USDCAD cross 20 pips or so higher at 1.2845.

- Upside levels of interest come in at Friday's (& today's) intra-day high of

1.2851, followed by the 1.0% envelope 10-DMA at 1.2895. 1.2821 represents the

initial level of support, marking the April 26 and 25 low. A break below would

open up a move towards 1.2812, marking the 23.6% fib level from the

1.2528-1.2900 move.

- The main risk event for the week comes in the form of the Canadian GDP data

which will hit on Tuesday, and represents a key yardstick for the

"data-dependent" BoC. The Ivey PMI release will hit on Thursday.