USD/CAD sits at C$1.3211, almost......>

DOLLAR-CANADA: USD/CAD sits at C$1.3211, almost unchanged on the day, after

falling 65 pips yesterday, amidst broad-based dollar weakness triggered by the

Fed's softer rhetoric, stressing the need for policy flexibility. CAD garnered

some strength initially, as oil extended its rally, as WTI settled in bull

market territory, but lost steam in the aftermath of the BoC MonPol decision,

closing near the bottom of the G10 pile. As a reminder, the BoC kept its rate on

hold, repeating its commitment to hiking the rate to neutral, but adding the

phrase "over time". 

- Initial resistance is located at C$1.3180, yesterday's low & the 100-DMA, and

a break below would open up the lower Bollinger band (3%) at C$1.3106.

Conversely, bulls focus on the cloud top at C$1.3252 and a jump above would

shift their focus to yesterday's high of C$1.3280. 

- Canadian building permits come out later Thursday.