USD/CAD – Supported on Dips by Sluggish oil. USDCAD bounced to a
high of 1.3178 before easing back towards the 1.3110, still underpinned
by sluggish oil. Daily momentum is mildly bearish and we see a move
towards the next support at 1.2968. Direction is still largely dictated by
oil prices and dollar cues. Key data release for the week includes Jun
retail sales (Cons.: 0.2%m/m) and Jul CPI (0.1%m/m) due on Fri.
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