CANADA FX DEBT-C$ flat in holiday-subdued trade; oil slumps
(Adds strategist comment, updates prices) * Canadian dollar at C$1.3265, or 75.39 U.S. cents * Canadian and U.S. bond markets closed TORONTO, Nov 11 (Reuters) - The Canadian dollar was flat against its U.S. counterpart on Wednesday following two days of small gains after Friday's slump on U.S. jobs data that raised the likelihood of a December rate hike from the Federal Reserve. The currency pair had little impetus to move with both U.S. and Canadian bond markets closed for public holidays. "We've been in a minor little pullback since Friday's highs but it's been fairly shallow," said Matt Perrier, managing director of foreign exchange sales at BMO Capital Markets. "I would suspect we continue to see this move unfold," he said, referring to a broader trend of U.S. dollar strength. The Canadian dollar was at C$1.3265 to the greenback, or 75.39 U.S. cents, at 4 p.m. (2100 GMT), according to Thomson Reuters data, the same level as Tuesday's official close. Perrier said any further strength in the Canadian dollar would likely fade between C$1.32 and C$1.3150, while a break above Friday's high near C$1.3320 would spark more greenback buying. The currency's strongest level of the session was C$1.3234, while its weakest was C$1.3284. U.S. crude prices settled down 2.9 percent at $42.93 a barrel, while Brent crude lost 3.4 percent to $45.85. Industry data showed an increase in U.S. stockpiles, while Iraqi supply also rose. The Canadian dollar was flat or underperforming against most of its key currency counterparts. (Reporting by Alastair Sharp; Editing by Lisa Von Ahn and James Dalgleish)
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