January 13, 2020 / 2:25 PM / in 5 days

CANADA FX DEBT-Loonie trades near flat ahead of Bank of Canada survey

    * Canadian dollar trades in a range of 1.3042 to 1.3068
    * Price of U.S. oil dips 0.1%
    * Canadian bond prices fall across a steeper yield curve

    TORONTO, Jan 13 (Reuters) - The Canadian dollar was little
changed against its U.S. counterpart on Monday, as oil prices
steadied after a sharp decline last week and investors awaited a
key business survey from the Bank of Canada.
    The Bank of Canada will release the winter issue of the
Business Outlook Survey at 10:30 a.m. (1530 GMT), which could
help guide interest rate expectations.
    Chances of a rate cut this year dipped on Friday to less
than 50% after data showing that Canada's economy added 35,200
jobs in December, exceeding the 25,000 gain that economists had
forecast.                       
    U.S. crude oil futures        were down 0.1% at $58.97 a
barrel, trading in a narrow range as investors shifted their
focus away from easing Mideast tensions to this week's scheduled
signing of an initial U.S.-China trade deal. Oil is one of
Canada's major exports.             
    At 9:06 a.m. (1406 GMT), the Canadian dollar         , was
trading nearly unchanged at 1.3044 to the greenback, or 76.66
U.S. cents. The currency, which hit on Thursday a near two-week
low intraday at 1.3104, traded in a range of 1.3042 to 1.3068.
    The loonie declined 0.4% last week, after it notched a 5%
gain in 2019, when it was the top-performing G10 currency.
    Speculators have more-than doubled their bullish bets on the
Canadian dollar, data from the U.S. Commodity Futures Trading
Commission and Reuters calculations showed on Friday. As of Jan.
7, net long positions had increased to 26,367 contracts from
11,913 in the prior week.
    Canadian government bond prices were lower across a steeper
yield curve in sympathy with U.S. Treasuries. The two-year
           fell 2 Canadian cents to yield 1.666% and the 10-year
            was down 22 Canadian cents to yield 1.612%.

 (Reporting by Fergal Smith; Editing by David Gregorio)
  
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