USD/CAD slipped 12 pips overnight.....>

DOLLAR-CANADA: USD/CAD slipped 12 pips overnight as the greenback struggled

somewhat, while CAD modestly recovered and sits towards the higher end of the

G10 table, despite starting the Asia-Pac session on the back foot, as oil prices

extended yesterday's losses, with WTI trading below $49/barrel at writing.

USD/CAD returned below C$1.3400 and last deals at C$1.3395. 

- BoC Gov Poloz spoke overnight, stressing Canada's "quite solid economic

fundamentals" and adding that he isn't expecting a recession in 2019. 

- Bears look to C$1.3373, where the rate bottomed yesterday, and a break below

would open up the Dec 14 low of C$1.3347. On the topside, initial focus falls on

the Dec 11 high/upper Bollinger band (2%) at C$1.3424/36 and a move through

these levels would allow bulls to target the Dec 6 high at C$1.3445. 

- Canadian m'fing sales will be released later today, with domestic CPI due

Wednesday and retail sales & GDP due Friday. The speakers slate is empty, but

the BoC will release its biz. outlook survey Friday.