USD/CAD has shed 21 pips thus far.....>

DOLLAR-CANADA: USD/CAD has shed 21 pips thus far and last deals at C$1.3437, as

crude oil prices have advanced on the back of OPEC+'s pledge to stick to output

cuts through the rest of the year. WTI trades $0.80 higher at typing.

- The rate finished virtually unchanged Friday, despite climbing initially on

the back of broader risk aversion. However, after having a look above C$1.3500

in the London afternoon, USD/CAD declined, with the move lower accelerated by

U.S. Pres Trump's declaration that the U.S. will lift tariffs on Canadian &

Mexican steel & aluminium.

- Earlier today, Trump tweeted that Canada & Mexico have removed tariffs on U.S.

agricultural products.

- Bears look to the lower Bollinger band (2%), located at the psychological

C$1.3400 level, just below the May 16 low. On the topside, focus falls on the

21-DMA at C$1.3448, ahead of the 100-HMA/200-HMA at C$1.3456/58.

- Canadian retail sales come out on Wednesday, while wholesale trade sales will

follow on Thursday.