USD/CAD trades virtually unchanged....>

DOLLAR-CANADA: USD/CAD trades virtually unchanged at C$1.3348.

- CAD topped the G10 FX leader board Monday, on the back of reports pointing to

& subsequent confirmation that the U.S. is removing the waivers on sanctions

pertaining to importing Iranian crude oil, allowing crude to reach multi-month

highs.

- Rate threatened to break below the 100-DMA on Monday, but ultimately failed to

extend below. The 100-DMA now resides at C$1.3339, and provides the initial

point of support, with a break opening up the 38.2% retracement of the move from

C$1.2783 to C$1.3665 at C$1.3328, followed by the 50- & 55-DMA at C$1.3322/17.

Initial resistance comes in the form of the 21-DMA/200-HMA/100-HMA clustered at

C$1.3357/58/62. Above here, triangle top resistance around the C$1.3400 level,

which has contained over previous sessions, will come back into focus.

- Wednesday's BoC MonPol decision provides the highlight of this week's Canadian

docket. With economists and BBG's WIRP function pointing to virtually no chance

of any change in rates at the meeting (based on OIS markets) focus will quickly

move to the language accompanying the decision.