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CANADA FX DEBT-C$ retreats from near 2-week high as oil falls
October 12, 2017 / 1:59 PM / 2 months ago

CANADA FX DEBT-C$ retreats from near 2-week high as oil falls

    * Canadian dollar at C$1.2477, or 80.15 U.S. cents
    * U.S. crude        prices slide 1.85 percent
    * Loonie touches its strongest intraday since Sept. 29
    * Bond prices higher across the yield curve

    TORONTO, Oct 12 (Reuters) - The Canadian dollar edged lower
against its U.S. counterpart on Thursday, pulling back from an
earlier near two-week high, as oil fell and the greenback rose
against a basket of major currencies.
    Prices of oil, one of Canada's major exports, slipped as
U.S. fuel inventories rose despite efforts by the Organization
of the Petroleum Exporting Countries to cut production.
            
    U.S. crude        prices were down 1.85 percent at $50.35 a
barrel.
    The U.S. dollar got a boost from data showing a rise in
producer prices. On Wednesday, the greenback had retreated after
minutes from the latest Federal Reserve meeting showed that some
officials worried about persistent low inflation.
    At 9:41 a.m. ET (1341 GMT), the Canadian dollar          was
trading at C$1.2477 to the greenback, or 80.15 U.S. cents, down
0.1 percent.
    The currency's weakest level of the session was C$1.2490,
while it touched its strongest since Sept. 29 C$1.2434.
    In domestic data, new home prices rose less than expected in
August as prices were unchanged in a number of markets,
including the cities of Toronto and Vancouver, which have been
the country's hottest regions, Statistics Canada said.
            
    Separate data showed that prices for repeat sales of
single-family homes declined 0.8 percent in September from the
month before. It was the first monthly decline since January
2016 and the biggest since September 2010.             
    Canadian government bond prices were higher across the yield
curve, with the two-year            up 2.1 Canadian cents to
yield 1.568 percent and the 10-year             rising 9
Canadian cents to yield 2.101 percent.
    Bank of Canada Senior Deputy Governor Carolyn Wilkins will
participate at 3:15 p.m. ET (1915 GMT) on a panel discussing the
future of paper currency at the annual meeting of the Institute
of International Finance.

 (Reporting by Fergal Smith; Editing by Susan Thomas)
  
 

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