USD/CAD last deals unchanged at.......>

DOLLAR-CANADA: USD/CAD last deals unchanged at C$1.3085, as CAD unwinds the

modest bid it experienced on the pre-lunch break pop in Chinese equities.

- Today's BOC decision provides the highlight of the Canadian calendar this

week. With a 25bp hike baked into markets, focus is likely to fall on the

communique employed by BOC Gov. Poloz & Senior Deputy Gov. Wilkins, in addition

to the Bank's quarterly economic projections.

- Focal points will likely include the USMCA, the upbeat quarterly BOC Business

Outlook Survey (conducted pre-USDMCA ratification), the recent moderation in

headline inflation & the output gap. As a reminder Wilkins has previously

highlighted that the BOC debated dropping its "gradual approach to" to rate

hikes in September.

- CAD has held firm vs. USD this week, even with crude oil prices trading heavy.

- Rate tested the 100-DMA (C$1.3071) overnight, with bears looking for a clean

break below. Key moving averages/recent daily lows are layered from C$1.3022 to

C$1.3014. To the upside, descending resistance and the October 23 high

(C$1.3119/22) provide the initial points of interest.