November 7, 2018 / 2:31 PM / 8 days ago

CANADA FX DEBT-C$ rallies as U.S. election pressures greenback

    * Canadian dollar rises 0.4 percent against greenback
    * Price of U.S. oil rebounds 0.8 percent
    * Canadian bond prices mixed across flatter yield curve

    TORONTO, Nov 7 (Reuters) - The Canadian dollar strengthened
against its U.S. counterpart on Wednesday, as the greenback
broadly fell after U.S. midterm congressional elections and as
oil prices rose.
    The U.S. dollar        slumped to its lowest in more than
two weeks against a basket of major currencies after the
election outcome of a split U.S. Congress raised expectations
that any major fiscal policy boost to the economy is unlikely
for now.                  
    The price of oil, one of Canada's major exports, rebounded
after a report said Russia and Saudi Arabia were discussing oil
output cuts in 2019.             
    U.S. crude        prices, which hit an eight-month low on
Tuesday, were up 0.8 percent at $62.73 a barrel.
    At 9:02 a.m. (1402 GMT), the Canadian dollar          was
trading 0.4 percent higher at 1.3076 to the greenback, or 76.48
U.S. cents. The currency's weakest level was 1.3159, while it
touched its strongest since Friday at 1.3057.
    Canada's Ivey Purchasing Managers Index is due for release
at 10 a.m. (15:00 GMT).
    Canadian government bond prices were mixed across a flatter
yield curve in sympathy with U.S. Treasuries. The 10-year
            climbed 2 Canadian cents to yield 2.532 percent.

 (Reporting by Fergal Smith; Editing by Bernadette Baum)
  
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