CANADA FX DEBT-C$ slips, hovers slightly above six-year lows
* Canadian dollar at C$1.2993 or 76.96 U.S. cents * Bond prices were mostly lower across the maturity curve By Solarina Ho TORONTO, July 20 (Reuters) - The Canadian dollar slipped modestly against its U.S. counterpart on Monday as the greenback hit its highest level in three months against a basket of currencies, and with Canadian wholesale trade figures showing a slump in May. There was little news to give the battered loonie a reprieve after last week's Bank of Canada rate cut that has pushed the currency to its weakest level against the greenback since March 2009. Wholesale trade, which moved the currency's needle negligibly, fell by 1 percent in May, exceeding economists' forecasts for a flat reading. Sales were also down 1 percent in volume terms. The figures come after hefty gains in the previous two months. * At 9:22 a.m. EDT (1322 GMT), the Canadian dollar was trading at C$1.2993 to the U.S. dollar, or 76.96 U.S. cents, a touch weaker than the Bank of Canada's official close of C$1.2987, or 77.00 U.S. cents on Friday. * The loonie has traded between C$1.2953 and C$1.2999 during the session so far. * Much of this week will be light in terms of market moving economic data out of Canada and the United States, at least until Thursday, when Canada releases retail sales data for May. * On the oil front, important for crude export-heavy Canada, signs of growing excess supply in refined products outweighed a fall in Saudi crude exports and slower U.S. rig activity, which kept prices under some pressure. U.S. crude prices were down 0.5 percent to $50.39, while Brent crude lost 0.91 percent to $56.58. * The Canadian dollar, which was mid-performer against its key currency counterparts, is expected to trade between C$1.2950 and C$1.3020 against the U.S. dollar on Monday, according to National Bank Financial. * Canadian government bond prices were mostly lower across the maturity curve, with the two-year price flat to yield 0.424 percent and the benchmark 10-year falling 15 Canadian cents to yield 1.579 percent. * The Canada-U.S. two-year bond spread widened to -27.8 basis points, while the 10-year spread widened to -80.4 basis points. (Reporting by Solarina Ho Editing by W Simon)
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