* Firms to C$1.0267 vs US$, or 97.40 U.S. cents * Rises with North American equities, some commodities * Bond prices weaken By Allison Martell TORONTO, June 12 (Reuters) - Canada's dollar firmed against its U.S. counterpart on Tuesday, helped by gains in North American equity markets and some commodity prices, including U.S. crude oil and gold. Both Canadian and U.S. stock indexes closed stronger, paring much of the heavy losses seen on Monday, when investors worried about the effectiveness of Europe's plan to bail out Spanish banks. The Canadian dollar also weakened on Monday. "Part of it may have been a bit of an over reaction yesterday," said Mark Chandler, head of Canadian fixed income and currency strategy at RBC Capital Markets. "People were a little frustrated in the lack of details on the Spanish banking package, but when everything is said and done, it's obviously better that we get some sort of commitment." A weekend deal by the 17-nation euro zone to lend Madrid up to 100 billion euros ($125 billion) for its bank rescue fund, more than an initial audit suggests it is likely to need, was aimed at reassuring markets. But investors remained wary about the broader euro zone debt crisis. Chandler said the bounce in North American equity markets and a modest rise in the price of some commodities also supported the resource-linked currency. U.S. crude and gold prices both rose. [. T O] The Canadian dollar closed at C$1.0267, or 97.40 U.S. cents, compared with Monday's close at C$1.0312, or 96.97 U.S. cents. EUROPE FEARS LINGER With Tuesday's gains, the currency was little changed from Friday's close at C$1.0270, or 97.37 U.S. cents. Sherif Gabriel, senior corporate trader at Western Union Business Solutions, said he did not expect the dollar to strengthen past C$1.02. He saw it weakening back above C$1.03 in the next few days. "What everybody's sitting on the sidelines waiting for here is June 17th, for the Greek vote," said Gabriel. "It's a very important moment for us to determine what's going to be happening with the euro." Concerns that the Greek election would force a disorderly exit from the euro zone were rekindled by a report that EU officials were considering ways to manage the fallout. "Risk currencies are trading marginally better against their safe haven counterparts, but I think that doesn't necessarily speak to a larger trend. I think it's really just a consolidation move," said Greg Moore, foreign exchange strategist at TD Securities. Canadian bond markets were mostly lower across the curve. Canada's two-year bond fell 7 Canadian cents to yield 1.029 percent, while the benchmark 10-year bond dropped 48 cents to yield 1.811 percent.