UK: GERMANY-Merz To Visit 17 July To Sign Bilateral Pact

• BOC: ECONOMY STILL SOMEWHERE BETWEEN ITS TWO TARIFF SCENARIOS
• BOC'S MACKLEM SAYS HIGHER CORE PRICES `HAS GOT OUR ATTENTION'

• Weakness for the greenback following weaker-than-expected US ADP and ISM services prints continues to dictate general sentiment across the G10 FX space on Wednesday, although a moderately hawkish lean to the BOC decision is providing an additional tailwind for the Canadian dollar.
• As noted, the communications kept the door open to a cut but not emphatically (Gov Macklem's opening statement: "We also discussed the path ahead for the policy interest rate. Here, there was more diversity of views.”
• As such, USDCAD reaches fresh cycle lows below 1.3675 in recent trade, keeping bearish technical conditions firmly intact for the pair.
• Sights are on 1.3643 next, the Oct 9 low/Sep high. Below here, attention will be on 1.3579, the 1.5 Fibonacci projection of the Feb 3 - 14 - Mar 4 price swing, before the September lows at 1.3420 will garner attention.

The DMO has announced it will be looking to sell GBP4.25bln of the 4.50% Mar-35 Gilt (ISIN: GB00BT7J0027) at its auction next Wednesday, June 11.