• $CAD firm into Europe close, +0.2% at 1.3989; Europe range 1.3989-36

• USD bid into London fix as UST yields slip from early NorAm lows

• Soft U.S. housing starts, building permits; above f/c imp/exp prices lifts USD

• CAD shrugs off CA yield rise; mixed commods oil up, copper dn tempers CAD dip

• Relative rate view, IRPR sees Fed ending 2025 at 3.99%, BoC 2.31% advantage USD

• $CAD res 1.4004 Thurs high, 1.4022 the 200DMA, 1.4083-50% Fib of 1.4414-1.3751

• Supt 1.3936 Friday low, 1.3914 rising 10-DMA, 1.3895 daily low May 12

• IMM positioning data at 3.30PM NYT in focus for clues on large CAD short

CAD Chart:


(Paul Spirgel is a Reuters market analyst. The views expressed are his own)