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CANADA FX DEBT-C$ pulls back from 4-week high as oil prices dip
August 29, 2017 / 2:00 PM / a month ago

CANADA FX DEBT-C$ pulls back from 4-week high as oil prices dip

    * Canadian dollar at C$1.2500, or 80.00 U.S. cents
    * Loonie touches its strongest since July 31 at C$1.2440
    * Bond prices higher across flatter yield curve
    * 10-year yield touches its lowest intraday since July 6

    TORONTO, Aug 29 (Reuters) - The Canadian dollar pulled back
from a four-week high against its U.S. counterpart on Tuesday as
oil prices dipped, while the greenback lost ground broadly as
investors weighed a North Korean missile test.
    The U.S. dollar        fell to its lowest level since
January 2015 against a basket of major currencies, while the
Swiss franc and the Japanese yen climbed after North Korea fired
a missile over northern Japan, sapping investors' demand for
risky assets, including stocks.                              
    Prices of oil, one of Canada's major exports, fell as the
market grappled with the shutdown of some 13 percent of U.S.
refining capacity after a hurricane ripped through the heart of
the country's oil industry.             
    U.S. crude        prices were down 0.52 percent at $46.33 a
barrel.
    At 9:38 a.m. ET (1338 GMT), the Canadian dollar          was
nearly unchanged at C$1.2500 to the greenback, or 80.00 U.S.
cents.
    The currency's weakest level of the session was C$1.2536,
while it touched its strongest since July 31 at C$1.2440.
    Canadian producer prices declined by 1.5 percent in July
from June on lower prices for motorized and recreational
vehicles, Statistics Canada said.             
    Canadian government bond prices were higher across a flatter
yield curve in sympathy with U.S. Treasuries, boosted by
safe-haven buying.             
    The two-year            price rose 6 Canadian cents to yield
1.234 percent and the 10-year             climbed 51 Canadian
cents to yield 1.808 percent. The 10-year yield touched its
lowest intraday level since July 6 at 1.805 percent.    
    Canada's gross domestic product data for the second quarter
is due on Thursday.

 (Reporting by Fergal Smith; Editing by Meredith Mazzilli)
  
 

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