CANADA FX DEBT-C$ tips higher, eyes resource prices
* C$ edges up to $1.0503, gains capped by resource drag
* Bond prices flat-to-lower
TORONTO, May 4 (Reuters) - Canada's dollar was little changed against the U.S. currency on Wednesday, weighed down by softness in the price of U.S. crude oil and other commodities.
A broad sell-off in commodities also dragged equities lower and dampened investor appetite for risk-taking, after fear that huge price gains last month had made everything from oil to silver too costly. However, Canadian government bond prices were flat to lower in the face of lower global equity markets. [MKTS/GLOB]
"One of the dominant stories in recent days is some of the pullback in commodities, especially the precious metals. That's continuing today," said Doug Porter, deputy chief economist at BMO Capital Markets.
Still, the currency traded in a fairly tight range on Wednesday morning, moving in a 29-tick range between C$0.9520-C$0.9549, according to Reuters data.
"To me, one of the more interesting stories here is how little movement we've seen in the Canadian dollar in the last couple of days given the news flow, the big moves in commodities, and election results," said Porter.
"Basically it looks like those two forces have more or less fought to a draw and we've had very little net movement in the Canadian dollar."
Canada's Conservatives won a long-coveted majority mandate in Monday's federal election. The prospect of a more stable government pushed the currency to near 3-1/2 year high though had little lasting impact.
The currency may not find a catalyst to move it off its perch until this Friday's jobs data from both Canada and the United States. Canada is expected to have created 22,500 jobs in April. ECONCA
At 8:10 a.m. (1210 GMT), the Canadian dollar CAD=D4 was at C$0.9521 to the U.S. dollar, or $1.0503, up from C$0.9526 to the U.S. dollar, or $1.0498, at Tuesday's close.
The two-year bond CA2YT=RR was unchanged to yield 1.698 percent, while the 10-year bond CA10YT=RR slipped 13 Canadian cents to yield 3.174 percent.
Canada to auction C$2.5 billion in 10-year bonds later in the session. (Reporting by Ka Yan Ng; Editing by Theodore d'Afflisio)
© Thomson Reuters 2017 All rights reserved.