CANADA FX DEBT-Canadian dollar dips against US$ on lower oil prices
* Canadian dollar at C$1.2509, or 79.94 U.S. cents * Bond prices mostly lower across the maturity curve TORONTO, April 7 (Reuters) - The Canadian dollar weakened against a stronger greenback on Tuesday, as oil prices softened, but the currency remained an outperformer against many of its major counterparts. "It's holding up rather well is the bottom line, really ... all the other major currencies have basically unwound the gains they made after the (U.S.) payrolls report on Friday," said Adam Cole, global head of FX strategy at RBC Capital Markets in London. With little economic news on the Canadian calendar until jobs data on Friday, the direction of the U.S. dollar and commodity prices are expected to be the main drivers for the loonie. * At 8:42 a.m. EDT (1242 GMT), the Canadian dollar was trading at C$1.2509 to the U.S. dollar, or 79.94 U.S. cents, softer than the Bank of Canada's official close of C$$1.2478, or 80.14 U.S. cents. * The Canadian currency's strongest level of the session was C$1.2455. Its weakest level was C$1.2522. * U.S. crude prices were down 1.28 percent to $51.47 a barrel, while Brent crude lost 0.81 percent to $57.65 a barrel as Iran and China discuss more oil sales. * The Reserve Bank of Australia decided to hold interest rates steady at 2.25 percent, surprising many investors. * The Canadian dollar is expected to trade between C$1.2450 and C$1.2530 against the U.S. dollar on Tuesday, according to National Bank Financial Group. * Canadian government bond prices were mostly lower across the maturity curve, with the price for the two-year issue down half a Canadian cent to yield 0.505 percent and the benchmark 10-year falling 12 Canadian cents to yield 1.359 percent. * The Canada-U.S. two-year government bond spread is -1.5, while the 10-year spread is -56.4. (Reporting by Solarina Ho; Editing by Paul Simao)
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