June 18, 2018 / 1:29 PM / in 3 months

CANADA FX DEBT-C$ steadies ahead of speech by Bank of Canada official

    * Canadian dollar at C$1.3194, or 75.79 U.S. cents
    * U.S. crude oil price rises 0.2 percent
    * Bond prices higher across the yield curve

    TORONTO, June 18 (Reuters) - The Canadian dollar steadied
against its U.S. counterpart on Monday ahead of a speech by a
Bank of Canada deputy governor, as oil prices rose and investors
weighed the threat of a trade war that could slow global growth.
    At 9:05 a.m. EDT (1305 GMT), the Canadian dollar         
was trading nearly unchanged at C$1.3194 to the greenback, or
75.79 U.S. cents. The currency, which fell 2 percent last week,
traded in a narrow range between C$1.3160 and C$1.3208.
    On Friday, it touched its weakest level in nearly a year at
C$1.3210.    
    The price of oil, one of Canada's major exports, rose ahead
of an OPEC meeting this week that is widely expected to increase
global crude supply and as investors assessed the impact of a
trade dispute between the United States and China.             
    U.S. crude        was up 0.2 percent at $65.18 a barrel. 
    Tit-for-tat tariffs between the United States and China
pressured stocks, with futures markets pointing to a lower open
on Wall Street.             
    Canada runs a current account deficit, so its currency could
be hurt by souring of risk appetite. The country has its own
trade feud with the United States and is also in slow-moving
talks with the United States and Mexico to revamp the North
American Free Trade Agreement.    
    Bank of Canada Deputy Governor Lynn Patterson will speak in
Toronto. The central bank, which could hike interest rates for a
second time this year in July, will release her prepared remarks
at 12:45 p.m. EDT (1645 GMT).
    Speculators have cut bearish bets on the Canadian dollar,
data from the U.S. Commodity Futures Trading Commission and
Reuters calculations showed on Friday. As of June 12, net short
positions dipped to 14,988 contracts from 16,039 a week earlier.
    Canadian government bond prices were higher across the yield
curve in sympathy with U.S. Treasuries. The two-year           
rose 1.5 Canadian cents to yield 1.884 percent and the 10-year
            climbed 15 Canadian cents to yield 2.201 percent.
    Canadian inflation data for May and the April retail sales
report are due on Friday.

 (Reporting by Fergal Smith
Editing by Paul Simao)
  
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