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CANADA FX DEBT-C$ strengthens against weaker greenback as oil rallies
November 22, 2017 / 2:59 PM / 22 days ago

CANADA FX DEBT-C$ strengthens against weaker greenback as oil rallies

    * Canadian dollar at C$1.2747, or 78.45 U.S. cents
    * U.S. crude oil reaches $58 for first time since July 2015
    * Bond prices mixed across a flatter yield curve

    TORONTO, Nov 22 (Reuters) - The Canadian dollar strengthened
against its U.S. counterpart on Wednesday as oil prices climbed
and weaker-than-expected U.S. durable goods orders weighed on
the greenback.
    The price of U.S. crude oil        reached $58 a barrel for
the first time since July 2015 as a major pipeline cut Canadian
crude flows to the United States.             
    Oil is one of Canada's major exports.
    The U.S. dollar        fell against a basket of major
currencies after data showed new orders for U.S.-made capital
goods unexpectedly fell in October.             
    At 9:34 a.m. ET (1434 GMT), the Canadian dollar          was
trading at C$1.2747 to the greenback, or 78.45 U.S. cents, up
0.3 percent.
    The currency traded in a narrow range of C$1.2739 to
C$1.2788. On Tuesday, it touched a nearly three-week low at
C$1.2837.
    The loonie has been pressured recently by concern that an
uncertain outlook for the North American Free Trade Agreement
will stall Bank of Canada interest rate hikes.
    The United States, Mexico and Canada failed to resolve any
major differences in a fifth round of talks to rework the NAFTA
trade deal, drawing a swift complaint from the Trump
administration on Tuesday that the lack of progress could spell
doom.             
    Canadian government bond prices were mixed across a flatter
yield curve, with the two-year            down 0.5 Canadian cent
to yield 1.465 percent and the 10-year             rising 2
Canadian cents to yield 1.916 percent.
    Canadian retail sales data for September is due on Thursday.

 (Reporting by Fergal Smith; Editing by Phil Berlowitz)
  
 

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