USD/CAD last trades at C$1.3460, a....>

DOLLAR-CANADA: USD/CAD last trades at C$1.3460, a touch higher on the day.

- Disappointing U.S. GDP breakdown data allowed the rate to close 30 pips lower

Friday, even as the headline figure topped expectations. A drop in WTI prices

failed to reverse the move.

- Over the weekend, BoC Gov Poloz singled out global trade war as the biggest

threat to many of the world's economies, including Canada's. He also said that

the BoC is not expecting "anything remotely like a recession," but rather

expects the economy to recover to ~2% growth by mid-2019.

- After Friday saw USD/CAD peak just shy of the psychological C$1.3500 level,

bulls remain focused on the figure before challenging the Apr 24 high of

C$1.3521, a level not seen since early January. Conversely, bears look for a

clean break below C$1.3452, where the pair bottomed on Friday. Below here opens

C$1.3403, which capped gains on Apr 5 & Apr 16.

- Canadian GDP, due Tuesday, and m'fing PMI, due Wednesday, take focus this

week. BoC Gov Poloz will speak alongside his deputy Wilkins on Tuesday.