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USDCAD consolidated above 1.3100 in...>

DOLLAR-CANADA
DOLLAR-CANADA: USDCAD consolidated above 1.3100 in early dealing, last trading
at 1.3120 as the commodity currencies faltered.
- The pair cleared the 6-month bull channel top at 1.3105, and has continued to
edge higher.
- CAD is being pressured by widening interest rate differentials with the US as
the BoC continues to stress that it is data-dependent, with the additional
uncertainty stemming from US trade policy adding further doubt to the country's
economic outlook.
- This week's Canadian domestic risk events include CPI, Retail Sales & an
address from BoC Senior Deputy Gov. Wilkins.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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