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* Higher at C$1.0583 to the US$, or 94.49 U.S. cents
* Markets reassured by Obama focus on jobs growth
* Bond prices flat to slightly higher across curve
By Jennifer Kwan
TORONTO, Jan 28 (Reuters) - The Canadian dollar edged higher against the U.S. dollar on Thursday as commodity prices firmed and investors sought more risk after a speech by U.S. President Barack Obama.
Global equities, typically a barometer of risk appetite, climbed on market optimism after Obama focused on job creation in his first State of the Union address late on Wednesday, rather than new details on clamping down on Wall Street. U.S. stock index futures also signaled a higher open. [MKTS/GLOB]
"Risk trades are cautiously back on today and this is something that is favoring the commodity players," said Eric Lascelles, chief economics and rates strategist at TD Securities.
Obama's acknowledgment of the importance of fiscal restraint and the need to get jobs growth going play favorably to the market, said Lascelles.
But another main driver was Wednesday's U.S. Federal Reserve's slightly brighter tone on the U.S. economy.
"The Fed's comments yesterday are continuing to buoy the markets. The improved economic growth outlook and in fact the dissent by one member wanting to hike rates sooner rather than later suggests there is an expectation this recovery persists."
At 9:13 a.m. (1413 GMT), the Canadian dollar was at C$1.0583 to the U.S. dollar, or 94.49 U.S. cents, up from Wednesday's finish at C$1.0647 to the U.S. dollar, or 93.92 U.S. cents.
The price for oil, a key Canadian export, rose to above $74 a barrel [O/R], lifted in part by the Obama speech, while gold prices were also firmer. [GOL/]
Market watchers said the focus would now shift to whether Ben Bernanke would win a second term as chairman of the Federal Reserve.
Government bond prices were little changed at the short end and slightly firmer at the long end as Canada struggled to keep pace with a selloff seen in other markets, said Lascelles.
U.S. Treasuries pared earlier losses on Thursday after data on jobless claims and durable goods came in weaker than expected, signaling a U.S. economic recovery will remain slow. [US/] (Editing by Jeffrey Hodgson)