USD/CAD finished marginally higher....>

DOLLAR-CANADA: USD/CAD finished marginally higher Wednesday, with the latest

monetary policy decision from the BoC in focus. The rate eased off initially, as

high-beta FX latched onto the broader recovery in risk appetite. However, a 50bp

rate cut delivered by the BoC put a fresh bid into the pair, with resultant

rally augmented by softening oil prices as OPEC+ had troubles with hammering out

consensus on possible output cuts. USD/CAD partially faded that move through the

rest of the day, heading towards neutral levels.

- Ex-BoC off'ls told MNI that the BoC is likely to cut rates again at its next

meeting on Apr 15, as global damage from Covid-19 takes hold.

- Canadian Dep PM Freeland said that the country is monitoring the coronavirus

situation and is well positioned to act if needed.

- USD/CAD last seen at C$1.3396, 10 pips better off. Above yesterday's peak at

C$1.3431 would expose the key resistance from the Feb 28 high at C$1.3465. Bears

look for a fall through the Mar 2 low of C$1.3315.

- Canadian trade balance & labour market report hit the wires on Friday.