USD/CAD has ticked away from..........>

DOLLAR-CANADA: USD/CAD has ticked away from session lows of C$1.3102 that came

about on the back of broader risk on flows, to last deal at C$1.3115. 

- The first bout of risk positive flows came in late NY trade as the White House

declared that it is "unaware" of alleged plans to impose another wave of

sanctions on imports from China, should next month's Trump-Xi talks fail to

conclude with a trade deal (contradicting an earlier BBG sources piece). The

downside move further accelerated in Asia-Pacific trade after President Trump

said that he expects "a great deal with China." 

- Bulls look to reclaim down trendline resistance at C$1.3118. Breaking above

that level would open up the 61.8% retracement from June highs to Oct lows at

C$1.3156. Bears keep an eye on the 100-DMA at C$1.3076 before targeting the

50-DMA at C$1.3016. 

- Focus this week falls on Canadian GDP tomorrow and labour mkt data due Friday.