December 12, 2019 / 2:25 PM / in a month

CANADA FX DEBT-Loonie rally stalls as focus shifts to Bank of Canada's Poloz

    * Canadian dollar weakens 0.1% against the greenback
    * Loonie trades in a range of 1.3163 to 1.3189
    * Price of U.S. oil rises 0.2%
    * Canadian bond prices edge higher across the yield curve

    TORONTO, Dec 12 (Reuters) - The Canadian dollar edged lower
against its U.S. counterpart on Thursday, paring some of the
previous day's gains as investors awaited a speech by Bank of
Canada Governor Stephen Poloz that could help offer clues on the
outlook for interest rates.
    Poloz, who will step down when his seven-year mandate
expires in June, is due to speak about "seeing the big picture."
The central bank will release his prepared remarks at 12:40 p.m.
(1740 GMT).
    Last week, the bank left its benchmark interest rate on hold
at 1.75% as it pointed to early signs the global economy was
stabilizing and sources of resilience in the Canadian economy.
But domestic data has since showed that Canada's economy shed
more than 70,000 jobs in November.
    At 9:16 a.m. (1416 GMT), the Canadian dollar          was
trading 0.1% lower at 1.3185 to the greenback, or 75.84 U.S.
cents. The currency traded in a range of 1.3163 to 1.3189.
    On Wednesday, the loonie rallied after the U.S. Federal
Reserve held interest rates steady and struck an optimistic tone
on the economic outlook. Canada is a major exporter of
commodities, including oil, so its economy could benefit from an
improved outlook for global growth.
    U.S. crude        prices were up 0.2% at $58.9 a barrel,
boosted by the Fed's message and a forecast by OPEC of a supply
deficit next year.             
    Canada's two main opposition parties on Wednesday suggested
they could move to delay ratification of a new trade pact with
the United States and Mexico, accusing the Liberal government of
botching revisions to the treaty.             
    Canada sends about 75% of its exports to the United States.
    Canadian government bond prices were slightly higher across
the yield curve in sympathy with U.S. Treasuries. The two-year
           rose 2 Canadian cents to yield 1.652% and the 10-year
            was up 9 Canadian cents to yield 1.572%.

 (Reporting by Fergal Smith; editing by Jonathan Oatis)
  
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