CANADA FX DEBT-Higher crude prices, weaker greenback lift Canadian dollar

Tue May 12, 2015 9:34am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

* Canadian dollar at C$1.2049 or 82.99 U.S. cents
    * Bond prices mixed across the maturity curve

    TORONTO, May 12 (Reuters) - Higher crude prices helped the
Canadian dollar strengthen against a broadly weaker U.S. dollar
on Tuesday, but trading stayed within its recent band due to a
dearth of economic data to inspire moves, and direction was
likely to come from oil and wider market sentiment.
    The weaker greenback and the ongoing conflict in Yemen
pushed the price of crude, a key Canadian export, higher,
despite Saudi Arabia's announcement of record oil output last
    * At 9:12 a.m. EDT (1312 GMT), the Canadian dollar 
was at C$1.2049 to the greenback, or 82.99 U.S. cents, stronger
than the Bank of Canada's official close of C$1.2110, or 82.58
U.S. cents, on Monday.
    * The currency's strongest level of the session was C$1.2025
and its weakest level was C$1.2107
    * U.S. crude prices rose 1.5 percent to $60.12, while
Brent crude was up 1.6 percent at $65.98.
    * The Canadian dollar is expected to trade between C$1.2000
and C$1.2100 against the U.S. dollar on Tuesday, according to
National Bank Financial.
    * Canadian government bond prices were mixed across the
maturity curve with longer-term bonds priced lower. The two-year
 price was down 3 Canadian cents at 0.722 percent and
the benchmark 10-year down 37 Canadian cents at
    * The Canada-U.S. two-year bond spread was 11.4 basis
points, while the 10-year spread was -42.8 basis points.

 (Reporting by Solarina Ho; Editing by Peter Galloway)