CANADA FX DEBT-C$ rises on higher equities, oil

Thu Jul 15, 2010 8:32am EDT
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* C$ at 97.21 U.S. cents

* JPMorgan results ease fears about U.S. financial sector

* Bonds slightly lower

By John McCrank

TORONTO, July 15 (Reuters) - The Canadian dollar rose against a soft U.S. dollar on Thursday as equity markets firmed and helped give a bid to oil prices.

JPMorgan, the first of the major U.S. banks to post second-quarter results, reported profits that beat analysts' expectations and said credit losses broadly were slowing. [ID:nN13247761]

That eased fears about the strength of the U.S. financial sector and sent both U.S. stock futures and European equity markets higher.

The positive sentiment helped oil climb above $77 a barrel. Canada is the No. 1 exporter of oil to the United States. [O/R]

The bounce in equities helped crude prices reverse earlier losses triggered by data that showed more moderate economic growth in China, the world's second biggest oil consumer. [ID:nTOE66D06L]   Continued...