June 24, 2015 / 2:15 PM / 2 years ago

CANADA FX DEBT-C$ slips as oil price, Greece anxiety weigh

2 Min Read

* Canadian dollar at C$1.2365 or 80.87 U.S. cents
    * Bond prices higher across the maturity curve

    TORONTO, June 24 (Reuters) - The Canadian dollar slipped
against its U.S. counterpart in cautious trade on Wednesday as
crude oil prices nudged lower and the market anxiously awaited
news on whether a deal to resolve the Greek debt crisis was
near.
   Oil prices eased even though U.S. government crude inventory
data due later in the session was forecast to show a drop in
stocks for an eighth straight week. Canada is a major oil
exporter and the loonie's moves are often linked with crude
prices. 
            
    * At 9:55 a.m. EDT (1355 GMT), the Canadian dollar 
was at C$1.2365 to the greenback, or 80.87 U.S. cents, softer
than the Bank of Canada's official close of C$1.2333, or 81.08
U.S. cents, on Tuesday.
    * The currency's strongest level of the session was
C$1.2276, while its weakest level was C$1.2375.
    * The U.S. economy contracted during the first quarter, but
less than previously estimated, with growth rebounding so far in
the second quarter. Market reaction to the data was fairly
muted.  
    * The Canadian dollar, which was underperforming most of its
key currency counterparts, was expected to trade between
C$1.2300 and C$1.2400 against the U.S. dollar on Wednesday,
according to KnightsbridgeFX.com.
    * Canadian government bond prices were higher across the
maturity curve, with the two-year price up 2.5
Canadian cents to yield 0.619 percent and the benchmark 10-year
 rising 23 Canadian cents to yield 1.802 percent.
    * The Canada-U.S. two-year bond spread was -8.3 basis
points, while the 10-year spread was -59.3 basis points.
    

 (Reporting by Solarina Ho; Editing by Peter Galloway)

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