CANADA FX DEBT-C$ strengthens with oil as Fed minutes weigh on greenback

Thu Aug 18, 2016 9:43am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

* Canadian dollar at C$1.2829, or 77.95 U.S. cents
    * Bond prices mixed across the maturity curve

    TORONTO, Aug 18 (Reuters) - The commodity-linked Canadian
dollar strengthened against its U.S. counterpart on Thursday as
oil rose and minutes from the Federal Reserve's July meeting
weighed on the greenback.
   U.S. crude prices were up 1.11 percent at $47.31 a
barrel as the world's biggest producer prepared to discuss a
possible freeze in output levels.
   The U.S. dollar fell against a basket of major
currencies after Fed minutes, released on Wednesday, showed a
bias among policymakers against raising interest rates soon.
    At 9:13 a.m. EDT (1313 GMT), the Canadian dollar 
was trading at C$1.2829 to the greenback, or 77.95 U.S. cents,
stronger than Wednesday's close of C$1.2856, or 77.78 U.S.
    The currency's weakest level in the session was C$1.2857 and
its strongest was C$1.2798, which matched Tuesday's seven-week
    Foreign investors bought a net C$9.02 billion ($7.03
billion) in Canadian securities in June, mainly in stocks, after
buying C$13.99 billion in securities in May, Statistics Canada
    Canadian government bond prices were mixed across the
maturity curve, with the two-year price down 0.5
Canadian cent to yield 0.575 percent and the benchmark 10-year
 rising 2 Canadian cents to yield 1.052 percent.
    The curve flattened as the spread between the 2-year and
10-year yields narrowed by 0.5 of a basis point to 47.7 basis
points, its narrowest since June 2008.

 (Reporting by Fergal Smith Editing by W Simon)