January 9, 2017 / 2:19 PM / 7 months ago

CANADA FX DEBT-C$ weakens slightly as oil price falls

2 Min Read

* Canadian dollar at C$1.3243 or 75.51 U.S. cents
    * Bond prices higher across the maturity curve

    TORONTO, Jan 9 (Reuters) - The Canadian dollar was slightly
weaker against its U.S. counterpart in early trade on Monday, as
crude oil prices fell.
    At 8:48 a.m. ET (1348 GMT), the Canadian dollar was
trading at C$1.3243 to the greenback, or 75.51 U.S. cents, below
 the Bank of Canada's official close on Friday of C$1.3232, or
75.57 U.S. cents.
    The currency's strongest level of the session was C$1.3227,
while its weakest was C$1.3278.
    The loonie made a strong gain against the pound, which slid
after British Prime Minister Theresa May said she was not
interested in Britain keeping "bits" of its EU membership.
 
    The Canadian currency had hit its strongest in more than
three weeks on Friday following surprisingly strong employment
and trade data, before pulling back to end barely higher.
    Oil fell 2 percent on Monday as signs of growing U.S.
production outweighed optimism that many other producers,
including Russia, were sticking to a deal to cut supplies in a
bid to bolster the market. 
    The Bank of Canada is due to release a quarterly business
outlook and loan officers survey at 10:30 a.m. ET (1530 GMT).
    Canadian government bond prices were higher across the
maturity curve, with the two-year price up 4.5
Canadian cents to yield 0.74 percent and the benchmark 10-year
 rising 54 Canadian cents to yield 1.665 percent.

 (Reporting by Alastair Sharp; Editing by Bernadette Baum)

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