June 26, 2020 / 1:28 PM / 11 days ago

CANADA FX DEBT-C$ adds to weekly decline as investors eye rising coronavirus cases

    * Canadian dollar falls 0.2% against the greenback
    * Loonie is on track to fall 0.5% for the week
    * Price of U.S. oil declines 0.5%
    * Canadian bond yields trade mixed across a flatter curve

    TORONTO, June 26 (Reuters) - The Canadian dollar extended
this week's decline against its U.S. counterpart on Friday as
concern about rising new coronavirus infections in the United
States and China weighed on the price of oil, one of Canada's
major exports.
    U.S. crude        prices were down 0.5% at $38.52 a barrel
            , while U.S. stock index futures also lost ground.
On Thursday, the United States set a new record for a one-day
increase in COVID-19 cases.             
    The Canadian dollar        was trading 0.2% lower at 1.3665
to the greenback, or 73.18 U.S. cents. The currency traded in a
range of 1.3627 to 1.3668.
    On Thursday, the loonie hit a 10-day low at 1.3670. It is on
track to fall 0.5% for the week.
    Its decline this week came as investors worried that
Washington could reimpose tariffs on Canadian aluminum and after
Canada lost one of its coveted triple-A ratings when Fitch
downgraded it for the first time, citing the billions of dollars
in emergency aid Ottawa has spent to help bridge the downturn
caused by COVID-19 pandemic shutdowns.                         
    Canada's emergency spending was needed to lay the groundwork
for a recovery, Prime Minister Justin Trudeau said on Thursday
in response to Fitch's rating downgrade.             
    Canadian government bond yields were mixed across a flatter
curve, with the 10-year             down 1.1 basis points at
0.519%.

 (Reporting by Fergal Smith; editing by Jonathan Oatis)
  
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