* C$ at $1.0263 vs US$, or 97.44 U.S. cents
* U.S. durable goods records biggest drop in 7 months
* Investors await announcement of next Bank of Canada chief
By Solarina Ho
TORONTO, April 24 (Reuters) - The Canadian dollar was
listless in a sixth day of range-bound trading against the U.S.
dollar as a recent string of lackluster data and unchanged
expectations on the Bank of Canada's next rate hike limited the
currency's movements.
Canada's dollar did not budget after U.S. data showed orders
for long-lasting U.S. manufactured goods recorded their biggest
drop in seven months in March, while a gauge of planned business
spending rose only modestly, signs of a slowdown in economic
activity.
"Certainly nothing to get excited about. Pretty big negative
numbers there," said Benjamin Reitzes, senior economist and
foreign exchange strategist at BMO Capital Markets.
"On the data front for Canada - more of the same. Lackluster
growth, essentially. There's no reason to believe that the data
is going to provide much impetus for Canadian dollar strength.
If anything, the risks are probably still for a weaker dollar
over the next month or two."
At 9:39 a.m. (1339 GMT), the Canadian dollar, which was
weaker against most other major currencies, was trading at
C$1.0263 against its U.S. counterpart, or 97.44 U.S. cents,
little changed from Tuesday's finish at C$1.0262, or 97.45 U.S.
cents.
Reitzes said Canada's AAA rating still makes the currency
attractive for central banks and sovereign wealth funds, which
will provide support and offset some weakness.
The Bank of Canada is expected to announce a replacement any
day for Governor Mark Carney, who is leaving in June to head the
Bank of England. Current deputy Tiff Macklem is widely expected
to take the helm, but analysts say there is always a slim chance
of a surprise.
The loonie, as the currency is colloquially known, has
finished within a tight 11-point range since the central bank
stuck to its oft-repeated view last week that its next interest
rate move would be a rise.
"Until we know who's taking over from Carney, we don't
really know whether that bias will be dropped or not," said
Reitzes.
Canadian government bond prices were generally lower across
the curve, with the two-year bond off 1.1 Canadian
cents with a yield of 0.952 percent, while the benchmark 10-year
bond was flat, yielding 1.728 percent.