CANADA FX DEBT-C$ dips on crude price pressures, but rangebound ahead of Fed
* Canadian dollar at C$1.2945 or 77.25 U.S. cents * Bond prices mixed across the maturity curve TORONTO, July 29 (Reuters) - The Canadian dollar weakened slightly against the U.S. dollar on Wednesday as crude prices fell, but traded within a narrow range ahead of the Federal Reserve statement on monetary policy. The loonie was still among the weakest against a number of major currencies, as the price of oil, a key Canadian export, marked its longest string of losses in a year on an ever-growing global supply glut. Investors were otherwise waiting for the Fed meeting to wrap up on Wednesday. Some expect the Fed to give a clearer signal as to when it will hike interest rates, with many economists forecasting September, though signs of slowing growth in China could push those forecasts back. The Canadian dollar is expected to weaken further this year, particularly as the two central bank monetary policies diverge. The Bank of Canada has already cut rates by 25 basis points twice this year. * At 9:17 a.m. EDT (1317 GMT), the Canadian dollar was trading at C$1.2945 to the greenback, or 77.25 U.S. cents. This was off the Bank of Canada's official close of C$1.2927, or 77.36 U.S. cents on Tuesday, which was the currency's strongest level in nearly two weeks. * The Canadian dollar has traded between C$1.2920 and C$1.2968 so far in the session. * The Federal Reserve statement is due at 2:00 p.m. EDT . * U.S. crude prices were down 0.63 percent to $47.68 a barrel, while Brent crude lost 0.41 percent to $53.08. * Canadian government bond prices were mixed across the maturity curve, with the longer-term bonds falling. The two-year price fell 1.5 Canadian cents to yield 0.449 percent and the benchmark 10-year was down 13 Canadian cents to yield 1.52 percent. * The Canada-U.S. two-year bond spread widened to -25.5 basis points, while the 10-year spread widened to -75.3 basis points. (Reporting by Solarina Ho; Editing by Meredith Mazzilli)
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