USD/CAD has edged higher and last.....>

DOLLAR-CANADA: USD/CAD has edged higher and last deals at C$1.3130 after closing

24 pips lower yesterday, although WTI moved a touch lower as profit taking crept

in after a strong January for crude. 

- Worth mentioning Canadian GDP fell 0.1% M/M in Nov (in line with exp.), but

rose 1.7% Y/Y against 1.6% forecast. The contraction in Canadian GDP in November

will add to downward pressure to the Bank of Canada's growth outlook, as Snr

Dep. Gov. Wilkins admitted that 2019 has gotten off to "a challenging start."

Wilkins also noted that wage growth remains subdued, even with a labour market

that is in good shape. 

- Bears look for a breach of yesterday's low/Wednesday's YTD low of C$1.3121/19

before shifting focus to the lower Bollinger band (3%) at C$1.3084. Conversely,

bulls eye the Nov 19 low of C$1.3142 and a break above would draw their

attention to yesterday's high of C$1.3165. 

- Canadian m'fing PMI hits later today.