May 18, 2017 / 1:40 PM / 2 months ago

CANADA FX DEBT-C$ dips, weighed by lower oil prices

2 Min Read

    * Canadian dollar at C$1.3613, or 73.46 U.S. cents
    * Bond prices mixed across a flatter yield curve

    TORONTO, May 18 (Reuters) - The Canadian dollar edged lower
on Thursday against its U.S. counterpart as oil prices fell,
while political uncertainty in Washington weighed further on
stocks.
    U.S. crude oil prices        fell 1 percent to $48.58 on
signs that the market remained well supplied with crude despite
efforts by the Organization of the Petroleum Exporting Countries
and other big exporters to curb production and support prices.
    A selloff in U.S. stocks looked set to extend into its
second day as a series of scandals cast a shadow over Donald
Trump's presidency and the future of his pro-growth agenda.
    Safe-haven currencies, such as the yen and the Swiss franc,
have outperformed on the political uncertainty at the expense of
commodity-linked currencies like the Canadian dollar, which are
more sensitive to the outlook for global growth.
    At 9:23 a.m. ET (1323 GMT), the Canadian dollar          was
trading at C$1.3613 to the greenback, or 73.46 U.S. cents, down
0.1 percent, according to Reuters data.
    The currency traded in a range of C$1.3582 TO C$1.3669. On
Wednesday it touched its strongest in nearly three weeks at
C$1.3573.       
    Foreign investment in Canadian securities amounted to C$15.1
billion in March, led by buying of corporate instruments,
Statistics Canada said.
    Canadian government bond prices were mixed across a flatter
yield curve, with the two-year            down 1 Canadian cents
to yield 0.664 percent and the 10-year             climbing 12
Canadian cents to yield 1.439 percent.
    Canadian inflation data for April and retail sales data for
March are due on Friday.

 (Reporting by Fergal Smith; Editing by Nick Zieminski)
  
 

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