USD/CAD sits at C$1.3123 in early.....>

DOLLAR-CANADA: USD/CAD sits at C$1.3123 in early Asia-Pac dealing, unchanged on

the day, and 20 pips or so off Tuesday's session highs. 

- The extended decline in oil prices has continued to weigh on CAD. WTI & Brent

both closed lower, as Iraq said it wants to increase output & export capacity in

2019, while the IEA called on OPEC to boost production, with the U.S. sanction

waivers for 8 Iranian crude importers setting the underlying tone on the day . 

- Broader dollar weakness might have slightly capped the rate's move higher

yesterday. 

- Bulls seek to retake yesterday's highs of C$1.3140 before challenging the Nov

1/Oct 31 high at C$1.3169/70. Meanwhile, bears focus on the nearby

psychologically significant level of C$1.3100 before targeting the 100-DMA at

C$1.3074. 

- The main theme today are U.S. Mid-term elections, with polls closing

throughout the Asia-Pac session. Canadian docket this week is limited and

includes mid-level housing mkt data due Thursday.