January 2, 2020 / 2:26 PM / 24 days ago

CANADA FX DEBT-Loonie clings to 2019 gains as Chinese stimulus boosts stocks

    * Canadian dollar was nearly unchanged against the greenback
    * Loonie trades in a range of 1.2969 to 1.3008
    * Price of U.S. oil increases by 0.4%
    * Canadian bond prices rally across a flatter yield curve

    TORONTO, Jan 2 (Reuters) - The Canadian dollar was little
changed against its U.S. counterpart on Thursday as Chinese
monetary policy easing buoyed global equity markets, with the
loonie holding on to its gains from 2019, when it was the top
performing G10 currency.
    At 9:10 a.m. (1410 GMT), the Canadian dollar          was
trading nearly unchanged at 1.2995 to the greenback, or 76.95
U.S. cents. The currency traded in a range of 1.2969 to 1.3008.
    The loonie, which notched on Tuesday a 14-month high at
1.2952, strengthened 5% in 2019.
    World stock markets began the new year with news that
China's central bank was freeing another 800 billion yuan ($115
billion) for its economy, ensuring there was no immediate
hangover after the wild gains of 2019.             
    Canada is a major exporter of commodities, including oil, so
its economy could benefit from a pick-up in global growth.
    U.S. crude        prices were up 0.4% at $61.29 a barrel as
signs of improving trade relations between the United States and
China which eased demand concerns and rising tensions in the
Middle East provided support.                 
    Canadian government bond prices were higher across a flatter
yield curve, with the two-year            up 6 Canadian cents to
yield 1.667% and the benchmark 10-year             rising 53
Canadian cents to yield 1.644%.

 (Reporting by Fergal Smith
Editing by Nick Zieminski)
  
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