USD/CAD has given away 34 pips and....>

DOLLAR-CANADA: USD/CAD has given away 34 pips and last sits at C$1.3951, as

broader risk sentiment and WTI prices have firmed up. 

- Outgoing BoC Gov Poloz spoke on Monday, noting that the risk of a "giant

deflationary crater" warrants unprecedented asset purchases, adding that large

amounts of stimulus will be needed during the economic recovery from the

coronavirus crisis. Poloz will appear again later today, this time alongside Snr

Dep Gov Wilkins.

- Bears see May 19 low of C$1.3867 as their initial target and a dip below there

would open up Apr 30 low of C$1.3851. Bulls need to claim May 22 high of

C$1.4048 before looking to challenge May 14 high of C$1.4141.

- On the data front, Canada's Q1 current account balance comes out on Thursday,

while GDP figures will be published on Friday. BoC's Poloz & Wilkins will

testify to lawmakers later today.