February 6, 2017 / 2:48 PM / 6 months ago

CANADA FX DEBT-C$ weaker as oil slips; trade data eyed

* Canadian dollar at C$1.3073, or 76.49 U.S. cents
    * Bond prices higher across the maturity curve

    TORONTO, Feb 6 (Reuters) - The Canadian dollar weakened
against its U.S. counterpart on Monday as oil prices slipped and
bond yields set a one-week low, with investors awaiting December
trade data due on Tuesday for signs of momentum in a nascent
export revival.
    The loonie, as Canada's currency is colloquially known, has
gained for two straight weeks on a combination of favorable
economic data and greenback weakness. Last week it touched its
strongest level since September.
    At 8:47 a.m. ET (1347 GMT), the Canadian dollar was
trading at C$1.3073 to the greenback, or 76.49 U.S. cents,
weaker than the Bank of Canada's official close on Friday of
C$1.3028, or 76.76 U.S. cents.
    The loonie was trading in a range of C$1.3008 to C$1.3085.
    Economists polled by Reuters have a wide range of
expectations for Tuesday's data after Canada achieved its first
trade surplus in more than two years in November. 
    The most optimistic see a C$1.5 billion surplus, while the
most pessimistic expect a C$1.5 billion deficit. The median view
is for a surplus of C$350 million after the surprise C$526
million surplus in the prior month.
    Jobs data is due on Friday. 
    U.S. crude oil prices were down 0.35 percent at
$53.64 a barrel, while Brent lost 0.56 percent to
$56.49. 
    Canadian government bond prices were higher across the
maturity curve, with the two-year price up 4 Canadian
cents to yield 0.755 percent and the benchmark 10-year
 rising 43 Canadian cents to yield 1.71 percent.
    The Canada-U.S. two-year bond spread narrowed to -41.8 basis
points, while the 10-year spread came in to -71.5 basis points.

 (Reporting by Alastair Sharp; Editing by Lisa Von Ahn)

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