December 14, 2017 / 2:51 PM / a year ago

CANADA FX DEBT-C$ slips ahead of Poloz speech as oil prices fall

    * Canadian dollar at C$1.2838, or 77.89 U.S. cents
    * Oil prices fall 0.9 percent
    * Bond prices lower across the yield curve

    TORONTO, Dec 14 (Reuters) - The Canadian dollar weakened
against its U.S. counterpart on Thursday after oil prices fell
and data showed robust U.S. retail sales, while investors turned
their attention to a speech by Bank of Canada Governor Stephen
Poloz.
    Oil, one of Canada's major exports, declined after the
International Energy Agency increased its forecast for U.S. 
output growth in 2018.             
    U.S. crude        prices were down 0.9 percent at $56.11 a
barrel.        
    U.S. retail sales increased more than expected in November,
pointing to sustained strength in the economy.             
    The data helped boost the U.S. dollar       , which had
fallen on Wednesday after the Federal Reserve raised interest
rates, as expected, but left its rate outlook for the coming
years unchanged.
    Bank of Canada Governor Stephen Poloz was due to discuss
three concerns that keep him awake at night. The central bank
will release his prepared remarks at 12:25 p.m. EST (1725 GMT).
    At 9:23 a.m. EST, the Canadian dollar          was down 0.2
percent at C$1.2838 to the greenback, or 77.89 U.S. cents.
    The currency traded in a range of C$1.2802 to C$1.2866.
    Resales of Canadian homes rose 3.9 percent in November from
October, the fourth straight monthly rise, but the momentum may
not last as stricter mortgage rules take effect in January, the
Canadian Real Estate Association said.             
    Statistics Canada said new home prices edged up by 0.1
percent in October on strength in the capital, Ottawa, and the
first increase in Toronto in five months.             
    Separately, the statistics agency said Canadian household
debt as a share of income reached a record high of 171.1 percent
in the third quarter. The report is likely to reinforce concerns
that consumers could run into trouble as interest rates rise.
            
    Canadian government bond prices were lower across the yield
curve, in sympathy with U.S. Treasuries. The two-year           
dipped 3 Canadian cents to yield 1.522 percent, and the 10-year
            declined 12 Canadian cents to yield 1.858 percent.

 (Reporting by Fergal Smith; Editing by Lisa Von Ahn)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below