CANADA FX DEBT-C$ fall muted as oil snaps losing streak
* Canadian dollar at C$1.1830 or 84.53 U.S. cents * Bond prices mixed across the maturity curve By Solarina Ho TORONTO, Jan 8 (Reuters) - The Canadian dollar was marginally weaker against its U.S. counterpart on Thursday as oil prices stabilized following data that showed U.S. crude stockpiles had fallen. Oil prices have tumbled more than 50 percent since June as Saudi Arabia and other oil-producing countries have resisted production cuts despite excess supply and waning demand. Canada is a major crude exporter, and the Canadian dollar has been highly sensitive to the sharp price declines. "For the Canadian dollar, really, the oil price is the core focus," said Camilla Sutton, chief currency strategist at Scotiabank. "So when we're seeing today oil not having reached a new low, and a fairly stable price from yesterday's close, it's seeing CAD react in a very similar manner." Sutton added, however, that the strength of the greenback has been the dominant factor in the currency market. "All in all CAD's been pushed and pulled by market trends," she said. "There's still a lot of U.S. dollar strength as the overarching theme for most currencies. Canada is just hovering in between." The Canadian dollar, which had retreated more than 1.5 percent since the new year to 5-1/2 year lows, was at C$1.1830 to the greenback, or 84.53 U.S. cents. That was slightly weaker than Wednesday's finish of C$1.1820, or 84.60 U.S. cents. Investors were also awaiting employment figures for December for the United States and Canada, which are due on Friday. Forecasters polled by Reuters expected 15,000 new jobs in Canada with the unemployment rate unchanged at 6.6 percent. Canadian government bond prices were mixed across the maturity curve with longer-term maturities falling. The two-year fell 2.5 Canadian cents to yield 0.98 percent and the benchmark 10-year declined 23 Canadian cents to yield 1.681 percent. (Reporting by Solarina Ho; Editing by Peter Galloway; Editing by Peter Galloway)
© Thomson Reuters 2016 All rights reserved.