USD/CAD snapped its four-day losing...>

DOLLAR-CANADA: USD/CAD snapped its four-day losing streak yesterday, as a flight

to safety and softer crude prices sent the rate rallying. Appetite for riskier

currencies dwindled as participants assessed the economic impact of the

coronavirus pandemic. Meanwhile, monthly IEA report forecast that global demand

for oil may drop by 9% this year, marking the biggest fall on record. WTI

slipped to the lowest level since 2002 as a result, but later trimmed losses as

BBG sources pointed to plans of U.S. Energy Dept to effectively subsidize

domestic drillers who will agree to halt production.

- Additional selling pressure hit CAD as the BoC left its policy rate unch., but

expanded its QE programme, launching provincial & commercial bond purchases.

Outgoing Gov Poloz noted that the selection of his successor is 90% complete.

Him & Snr Dep Gov Wilkins will address House of Commons Finance Committee today.

- USD/CAD trades flat at C$1.4115. Bulls target Apr 7 high of C$1.4143, followed

by Apr 6 high of C$1.4262, hoping that yesterday's momentum will persist. Bears

look for a retreat under C$1.3856, Apr 13 low, to start with.

- Canada reports slightly outdated, February manufacturing sales later today.