USD/CAD last trades at C$1.3398, a....>

DOLLAR-CANADA: USD/CAD last trades at C$1.3398, a touch higher on the day, after

dropping 22 pips yesterday. CAD was aided by a move higher in WTI, owing to

comments from a Saudi official cited by RTRS, who said that the Kingdom plans to

trim its oil exports below 7mn bpd & keep its output "well below 10mn bpd" in

April.

- The rate then bounced from worst levels and touched intraday highs of

C$1.3440, as U.S. retail sales topped expectations. However, the pair ebbed

lower subsequently, as firmer oil prices came to the fore again, while U.S.

retail sales for December were subjected to negative revisions.

- The 100-HMA at C$1.3423 draws the initial bullish attention and a break above

would bring the Mar 7 high of C$1.3468 into play. Conversely, bears eye the Jan

24 peak at C$1.3375 and a fall below would allow them to set their sights on the

cloud top, located at C$1.3367.

- Canadian m'fing sales come out on Friday, while BoC Dep Gov Wilkins will speak

on Thursday.