USD/CAD has edged lower and last......>

DOLLAR-CANADA: USD/CAD has edged lower and last deals at C$1.3142 after falling

120 pips Wednesday on the back of post-FOMC USD weakness & firmer oil prices.

Signals of the Fed's move to a more neutral stance on MonPol sent the greenback

lower across the board, while WTI broke above $54, peaking just 7 pips shy of

the $55 figure, dragging the commodity-tied FX space higher with it. Crude drew

its strength from the latest DOE inventory report, which saw a smaller than exp.

rise in U.S. crude oil inventories, a decline in gasoline inventories &

indicated that Saudi Arabian oil shipments to the U.S. fell to the lowest levels

since Oct 2017 (in line with the Kingdom's commitment to curb output). 

- Initial support noted at Wednesday's YTD low of C$1.3119, followed by the Nov

8 low of C$1.3088. Conversely, bulls focus on the Nov 20 low/Dec 3 low of

C$1.3156/60 and a jump above would bring the 100-DMA at C$1.3211 into view. 

- Thursday will see remarks from BoC Dep Gov Wilkins & the release of Canadian

GDP, while CA m'fing PMI comes out Friday.