September 11, 2018 / 1:22 PM / a month ago

CANADA FX DEBT-C$ steady ahead of more talks on NAFTA trade deal

    * Canadian dollar at C$1.3170, or 75.93 U.S. cents
    * Canadian housing starts fall in August
    * NAFTA trade talks set to resume
    * Bond prices move lower across the yield curve

    TORONTO, Sept 11 (Reuters) - The Canadian dollar was little
changed against the greenback on Tuesday, maintaining this
week's narrow range as domestic data showed that housing starts
unexpectedly fell in August and talks to renew the NAFTA trade
pact were set to resume.
    Canadian Foreign Minister Chrystia Freeland will meet U.S.
Trade Representative Robert Lighthizer in Washington for another
round of talks on the North American Free Trade Agreement, an
official said on Monday, as time runs short to seal a deal.
            
    Canada sends about 75 percent of its exports to the United
States, so its economy could be hurt if a deal is not reached.
    Canadian housing starts declined to a seasonally adjusted
annualized rate of 200,986 units from a revised 205,751 units in
July, data from the Canada Mortgage and Housing Corporation
showed.             
    At 8:59 a.m. (1259 GMT), the Canadian dollar          was
trading nearly unchanged at C$1.3170 to the greenback, or 75.93
U.S. cents.
    The currency, which was also little changed on Monday,
traded in a tight range of C$1.3132 to C$1.3175. On Thursday, it
touched its weakest in nearly seven weeks at C$1.3226.
    World stocks slipped back towards three-week lows on
concerns over the trade dispute between Washington and Beijing.
            
    Canada exports many commodities and runs a current account
deficit, so its economy depends on the global flow of trade and
capital.
    The price of oil, one of Canada's major exports, edged
higher as U.S. sanctions squeezing Iranian crude exports 
tightened global supply. U.S. crude        prices were up 0.4
percent at $67.78 a barrel.             
    Canadian government bond prices were lower across the yield
curve in sympathy with U.S. Treasuries. The two-year           
dipped 2 Canadian cents to yield 2.117 percent and the 10-year
            declined 18 Canadian cents to yield 2.307 percent.

 (Reporting by Fergal Smith
Editing by Susan Thomas)
  
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