April 5, 2017 / 1:47 PM / 4 months ago

CANADA FX DEBT-C$ pares this week's losses as oil prices climb

    * Canadian dollar at C$1.3389, or 74.69 U.S. cents
    * Bond prices slightly lower across the yield curve

    TORONTO, April 5 (Reuters) - The Canadian dollar
strengthened on Wednesday against its U.S. counterpart, paring
some of this week's losses as oil prices rose.
    U.S. crude        prices were up 1.25 percent at $51.67 a
barrel, helped by a fall in U.S. crude inventories and an outage
at Britain's largest North Sea oilfield.             
    Oil is one of Canada's major exports.
    Still, gains for the loonie were restrained as caution
prevailed in global markets before a potentially tense meeting
between U.S. President Donald Trump and his Chinese counterpart
Xi Jinping this week.             
    At 9:06 a.m. ET (1306 GMT), the Canadian dollar          was
trading at C$1.3389 to the greenback, or 74.69 U.S. cents,
stronger than Tuesday's close of C$1.3406, or 74.59 U.S. cents.
    The currency traded in a range of C$1.3379 to C$1.3409.
    On Tuesday, the Canadian dollar hit a nearly three-week low
against its U.S. counterpart at C$1.3455, pressured by a loss of
risk appetite and domestic data showing an unexpected trade
deficit.
    It has retreated 0.7 percent this week after finishing the
first quarter with a 1 percent gain.
    The U.S. dollar        was little changed on Wednesday ahead
of the release of minutes from the last U.S. Federal Reserve
meeting even as U.S. private employers added 263,000 jobs in
March, well above economists' expectations.             
    Canadian government bond prices were slightly lower across
the yield curve, with the two-year            down 2 Canadian
cents to yield 0.749 percent and the 10-year             falling
5 Canadian cents to yield 1.588 percent.
    On Tuesday, the 10-year yield touched its lowest in four
months at 1.545 percent as U.S. Treasury yields declined on
doubts about the ability of U.S. President Donald Trump to enact
fiscal stimulus.
    Canada's employment report for March is due on Friday.
Economists forecast that Canada added just 5,000 jobs after a
strong run of employment gains.         

 (Reporting by Fergal Smith Editing by W Simon)
  
 

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