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USDCAD has stuck to a tight range.....>

DOLLAR-CANADA
DOLLAR-CANADA: USDCAD has stuck to a tight range thus far, last trading
unchanged at ~1.2605.
- From a technical perspective, 1.2552 represents Friday's low, with the current
April low coming in at 1.2545. To the upside some of last week's daily highs are
clustered at 1.2622/1.2624, with the 200 DMA coming in at 1.2626. 
- This week's Canadian docket is back-loaded but full of event risk. Thursday
brings the latest BoC MonPol decision & press conference from Gov Poloz, with
the majority looking for the BoC to stand pat, and markets pricing a mere ~20%
chance of a rate hike. The BoC will convene in the wake of last week's BoS
report, which was relatively constructive, while the NAFTA outlook looks more
encouraging than it did a few weeks ago.
- Friday will bring the release of the latest Canadian CPI & retail sales data.
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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