July 23, 2020 / 1:47 PM / in 17 days

CANADA FX DEBT-C$ softer as a rise in U.S. jobless claims lifts bruised U.S. dollar

    * Canadian dollar at C$1.3421 or 74.51 U.S. cents
    * Bond prices mixed across the maturity curve

    By Saqib Iqbal Ahmed
    July 23 (Reuters) - The Canadian dollar edged lower against
its U.S. counterpart on Thursday, on pace to snap a three-day
streak of gains, as a rise in U.S. weekly jobless claims fueled
risk aversion, helping lift the bruised U.S. dollar, and as oil
prices eased.
    The Canadian dollar        was at C$1.3421 to the greenback,
or 74.51 U.S. cents, weaker than Wednesday's close of C$1.3416,
or 74.54 U.S. cents.
    The number of Americans filing for unemployment benefits
rose last week for the first time in nearly four months,
suggesting the U.S. labor market was stalling amid a resurgence
in new COVID-19 cases and depressed demand.             
    The U.S. dollar, which has come under pressure in recent
weeks as investors' appetite for risk improved was broadly firm
on Thursday. The U.S. dollar currency index        was 0.03%
higher on the day.
    "Risk sentiment diminished after disappointing news on
America’s job market renewed worries about the state of the
world economy," said Joe Manimbo, senior market analyst at
Western Union Business Solutions in Washington.
    The loonie, which has been supported in recent sessions by
rising oil prices, found little of that support on Thursday as 
oil prices edged lower on concerns about rising U.S. oil
inventories and surging coronavirus cases.             
    On Thursday, Canadian government bond prices were mixed
across the  maturity curve. The two-year            yield was at
0.282% up from 0.272% late on Wednesday, while the benchmark
Canadian 10-year             yield slipped to 0.502% from
Wednesday's 0.51%.

 (Reporting by Saqib Iqbal Ahmed; editing by Jonathan Oatis)
  
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