• The Canadian Dollar is adrift on a thin market at the start of the trading week.
• Canada’s Remembrance Day holiday has most provinces out of the office for Monday.
• The economic calendar is sparse this week, little Canadian data on offer.

The Canadian Dollar (CAD) is finding little momentum in thin holiday markets, with the majority of Canadian provinces and territories taking the day off in observance of Remembrance Day.

There’s little of note on the economic data docket for the CAD this week, and the Loonie will be at the whim of overall market sentiment as the trading week unwinds.

Daily Digest Market Movers: Canadian Dollar shifting around a base of thin bids for Monday

• Monday momentum is limited, capping momentum in either direction to kick off the early trading week.
• There is a notable lack of viable economic data on offer for CAD traders this week.
• Loonie to trade according to market flows with a hefty US data schedule slated for this week.
• Early Tuesday will see Bank of Canada (BoC) Deputy Governor Toni Gravelle deliver talking points while participating in a panel discussion labeled  "Challenges for Financial Stability and Financial Regulation amid Heightened Uncertainty".
• BoC Dep Gov Gravelle is participating in the Third High-Level Conference on Global Risk, Uncertainty, and Volatility, in Zurich, Switzerland.
• The BoC’s Council Member is not expected to move markets much, but investors will want to keep an eye out.

Technical Analysis: Canadian Dollar sees thin action for Monday, US Dollar in the driver’s seat

The CAD is seeing thin markets on Monday as it trades against the US Dollar (USD), and shifting sand beneath the Greenback is sending the USD/CAD pair down below the 1.3800 handle for Monday. Thin markets are set to keep the Loonie-Dollar pair constrained for the early part of the week’s trading session.

The USD/CAD is struggling to maintain bullish momentum following last week’s rebound from the 50-day Simple Moving Average (SMA) near 1.3630. A continuation of downside moves will see last Friday’s rejection from 1.3850 firm up into a technical ceiling below November’s early high bids near 1.3900.

On the downside, a bearish extension will see challenges from the 200-day SMA currently pushing upward through 1.3500. A lack of recent directional momentum is seeing technical indicators begin to drift toward the middle, with the Relative Strength Index (RSI) currently heading into the 50.0 median barrier.