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CANADA FX DEBT-C$ notches 2-week high before giving up its gains
November 9, 2017 / 2:21 PM / a month ago

CANADA FX DEBT-C$ notches 2-week high before giving up its gains

    * Canadian dollar at C$1.2724, or 78.59 U.S. cents
    * Loonie touches its strongest in two weeks at C$1.2688
    * Bond prices retreat across the yield curve

    TORONTO, Nov 9 (Reuters) - The Canadian dollar was little
changed on Thursday against its U.S. counterpart, steadying
after posting a two-week high on a rise in oil prices and a
broad decline for the greenback. 
    The U.S. dollar        edged lower against a basket of major
currencies, pressured by talk of possible delays to U.S.
President Donald Trump's tax reform plans as well as a
risk-averse mood.             
    Prices of oil, one of Canada's major exports, were supported
by major exporter supply cuts, but analysts said the market
could be vulnerable to a sell-off after several months of gains.
            
    U.S. crude        was up 0.16 percent at $56.90 a barrel.
    At 8:52 a.m. ET (1352 GMT), the Canadian dollar          was
little changed at C$1.2724 to the greenback, or 78.59 U.S.
cents.
    The currency's weakest level of the session was C$1.2740,
while it touched its strongest since Oct. 25 at C$1.2688.
    The loonie had added to gains it made after comments on
Tuesday by Bank of Canada Governor Poloz.
    In a speech and news conference, Poloz maintained a neutral
tone on the next interest rate move, repeating the bank's
message that it was monitoring wage growth and inflation, as
well as how the economy was adjusting to rate hikes in July and
September.             
    New home prices in Canada rose 0.2 percent in September from
August, mostly on the strength of the Kelowna and Vancouver
markets, Statistics Canada said on Thursday. The year-on-year
gain was steady at 3.8 percent.                
    Canadian government bond prices were lower across the yield
curve in sympathy with U.S. Treasuries. The two-year           
dipped 2.5 Canadian cents to yield 1.439 percent, and the
10-year             declined 15 Canadian cents to yield 1.937
percent.
    On Wednesday, the 10-year yield touched a two-month intraday
low of 1.879 percent.

 (Reporting by Fergal Smith; Editing by Lisa Von Ahn)
  
 

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