USD/CAD moving higher in the early....>

DOLLAR-CANADA: USD/CAD moving higher in the early part of Asia-Pacific trade,

last ~25 pips higher at C$1.3382, after hitting a high of C$1.3389. CAD under

pressure from slight risk aversion in the FX space, stemming from a sharp move

lower in U.S. equity index futures & a Huawei executive being detained in Canada

owing to breaches of Iranian sanctions, with the U.S. seeking her extradition.

- Wednesday saw USD/CAD rally through June highs to touch C$1.3400 as the Bank

of Canada delivered a dovish hold at its latest MonPol decision. BoC highlighted

near-term risks to the economy emanating from the energy sector, stating that

the economy may have additional room to grow without triggering inflationary

pressure. Market revised back expectations on coming rate hikes.

- A break of C$1.3400 brings in immediate resistance at the upper 3% Bollinger

band at C$1.3409, with no other notable resistance until the 23.6% retracement

of the move from C$0.9633 to C$1.4690 at C$1.3497. Bears look to Wednesday's

intraday low of C$1.3253 as initial support.

- Focus on an address by BoC Gov. Poloz later today, with Ivey PMI also due,

ahead of Friday's CA labour market report.