USD/CAD has dropped 26 pips thus......>

DOLLAR-CANADA: USD/CAD has dropped 26 pips thus far and last deals at C$1.3451,

with the loonie marginally outperforming in the G10 FX space. The rate is

pressured by a firmer WTI, which has added $0.55 as risk sentiment has revived

somewhat.

- Worth noting Canadian PM Trudeau and U.S. President Trump held a telephone

conversation, in which they discussed the USMCA and the situation of Canadian

citizens detained in China.

- This comes after USD/CAD finished virtually unchanged yesterday, as broader

greenback strength faded after the pair had a brief look above C$1.3500.

- Below the 21-DMA at C$1.3422 would open up the 50-DMA, which comes in at

C$1.3387. On the topside, bulls need to retake the 200-HMA/100-HMA at

C$1.3452/67 to gain some momentum.

- Canadian labour mkt data & building permits come out later today.