USD/CAD range-bound so far, last......>

DOLLAR-CANADA: USD/CAD range-bound so far, last trades flat at C$1.3088, with

Canadian federal election still underway. Voting in the most westerly regions is

set to run through until 03:00 BST. Recent opinion polls have put PM Trudeau's

Liberals & Andrew Scheer's Conservatives neck-and-neck, suggesting neither of

them will form a majority gov't.

- USD/CAD slid yesterday as a positive sentiment favoured high-beta FX. Hopes

for positive resolutions to the Brexit & U.S.-China trade situations supported

appetite for riskier assets. A downtick in WTI prices failed to spill over into

the loonie and USD/CAD finished comfortably in the red.

- From a technical perspective, the outlook remains bearish following a breach

of the key support from the Sep 10 low of C$1.3134. Bears now set their sights

on the Jul 19 YtD low of C$1.3016. Bulls need a break above the handle

resistance at C$1.3100 before targeting the aforementioned C$1.3134 level.

- Canadian retail sales hit later today, while BoC Business Outlook & Snr Loan

Officer Surveys will be published on Wednesday.