USD/CAD hit a low of C$1.3114.........>

DOLLAR-CANADA: USD/CAD hit a low of C$1.3114 overnight after President Trump

stated that he believes Canada will end up as part of the new NAFTA. This came

after one newswire ran a report that NAFTA talks are unlikely to reach a deal

this week, citing an unnamed Canadian Minister.

- Late comments from BOC's Wilkins on Thursday that the "BOC debated dropping

gradual approach to rate hikes," allowed USD/CAD to unwind earlier gains and

close near session lows yesterday.

- Rate last C$1.3130. Support noted at the 55-DMA (C$1.3109) followed by hourly

support (C$1.3097). Bigger picture, bulls need a convincing break of the

double-top resistance area (C$1.3205/10), to open up the July 20 high

(C$1.3290). Bears need a break of C$1.2900 to re-establish the downtrend.

- Canadian labour market data provides the highlight of the CA docket today,

with Ivey PMI data also due.

- Nearby notable FX option expiries at today's 10AM cut: C$1.3000($1.55bn),

C$1.3050($735mn), C$1.3100($915mn)