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CANADA FX DEBT-C$ near flat as oil rises; Poloz awaited on Tuesday
November 6, 2017 / 2:32 PM / a month ago

CANADA FX DEBT-C$ near flat as oil rises; Poloz awaited on Tuesday

    * Canadian dollar at C$1.2766, or 78.33 U.S. cents
    * Bank of Canada Governor Stephen Poloz due to speak on
Tuesday
    * Bond prices higher across the yield curve

    TORONTO, Nov 6 (Reuters) - The Canadian dollar was little
changed against its U.S. counterpart on Monday as investors
weighed a series of arrests of prominent Saudi Arabians and
awaited a speech on Tuesday from Bank of Canada Governor Stephen
Poloz.
    Prices of oil, one of Canada's major exports, reached their
highest since July 2015 as Saudi Arabia's crown prince cemented
his power over the weekend through an anti-corruption crackdown.
                            
    The news stirred concerns of Middle Eastern money pulling
out of global financial markets.             
    Poloz will discuss central banks' ability to understand
inflation, which can help guide expectations for further
interest rate hikes.
    Canada's central bank is expected to hold rates steady in
December after hiking twice this year. But data on Friday
showing unexpected strength in the nation's job market has
supported expectations for further increases next year.
            
    At 9:05 a.m. ET (1405 GMT), the Canadian dollar          was
nearly flat at C$1.2766 to the greenback, or 78.33 U.S. cents.
    The currency traded in a narrow range of C$1.2742 to
C$1.2777. On Friday, it touched its strongest in nine days at
C$1.2716.
    Still, speculators have cut bullish bets on the loonie, data
from the U.S. Commodity Futures Trading Commission and Reuters
calculations showed on Friday. As of Oct. 31, Canadian dollar
net long positions had slipped to 57,839 contracts from 72,332 a
week earlier.
    Canadian government bond prices were higher across the yield
curve, in sympathy with U.S. Treasuries. The two-year           
rose 0.5 of a Canadian cent to yield 1.438 percent, and the
10-year             climbed 15 Canadian cents to yield 1.938
percent.

 (Reporting by Fergal Smith; Editing by Lisa Von Ahn)
  
 

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