January 29, 2018 / 2:33 PM / 4 months ago

CANADA FX DEBT-C$ slips vs stronger greenback as oil prices fall

    * Canadian dollar at C$1.2334, or 81.08 U.S. cents
    * Bond prices lower across much of the yield curve
    * 10-year yield touches more than three-year high

    TORONTO, Jan 29 (Reuters) - The Canadian dollar weakened
against its U.S. counterpart on Monday as oil prices fell and
the greenback broadly climbed, while global bond yields reached
multi-year highs.
    The U.S. dollar        rose against a basket of major
currencies as U.S. bond yields moved higher.             
    The price of oil, one of Canada's major exports, fell as
rising U.S. output undermined efforts led by major producers to
tighten supplies.            
    U.S. crude        prices were down 1 percent at $65.46 a
barrel.    
    The United States, Canada and Mexico look set to announce
that talks to revamp the North American Free Trade Agreement
will continue despite major differences that are far from being
settled.             
    At 9:19 a.m. EST (1419 GMT), the Canadian dollar         
was trading 0.2 percent lower at C$1.2334 to the greenback, or
81.08 U.S. cents.
    The currency traded in a range of C$1.2306 to C$1.2355. On
Thursday, it touched its strongest in more than four months at
C$1.2283.
    Speculators raised bullish bets on the Canadian dollar for a
third straight week, data from the U.S. Commodity Futures
Trading Commission and Reuters calculations showed on Friday. As
of Jan. 23, net long positions rose to 22,557 contracts from
17,556 a week earlier.
    Canadian government bond prices were lower across much of
the yield curve, with the two-year            down 0.5 Canadian
cent to yield 1.828 percent and the 10-year             falling
22 Canadian cents to yield 2.293 percent.
    The 10-year yield reached its highest since September 2014
at 2.314 percent as investors braced for major central banks to
step back from ultra-easy monetary policies. The U.S. Federal
Reserve is due to make an interest rate decision on Wednesday.
            .
    Canadian gross domestic product data for November is due on
Wednesday. The economy is forecast to have grown by 0.4 percent,
a Reuters poll shows, regaining momentum after pausing in
October.   

 (Reporting by Fergal Smith; Editing by Bernadette Baum)
  
 
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