TORONTO (Reuters) - The Canadian dollar strengthened against its U.S. counterpart on Wednesday, on track for its third day of small gains after Friday’s slump on U.S. jobs data that raised the likelihood of a December rate hike from the U.S. Federal Reserve.
At 8:45 a.m. EST (1345 GMT), the Canadian dollar CAD=D4 was trading at C$1.3260 to the greenback, or 75.41 U.S. cents, compared with Tuesday’s official close at C$1.3265, or 75.39 U.S. cents.
U.S. and Canadian bond markets are closed for public holidays.
* The loonie’s strongest level of the session was C$1.3239, while its weakest was C$1.3281.
* Investors appeared to brush off Chinese data that showed growth in the world’s second-biggest economy was still in low gear.
* U.S. crude CLc1 prices were down 1.09 percent at $43.73. Industry data showed an increase in U.S. stockpiles as analysts pointed to resilient output in the face of lower prices. [O/R]
* The Canadian dollar was flat or underperforming against most of its key currency counterparts.
Reporting by Alastair Sharp; Editing by Lisa Von Ahn