November 6, 2019 / 2:42 PM / a month ago

CANADA FX DEBT-Loonie sticks to narrow range ahead of Friday's jobs data

    * Canadian dollar falls 0.1% against the greenback
    * Loonie trades in a range of 1.3140 to 1.3176
    * Price of U.S. oil increases 0.1%
    * Canadian bond prices rise across the yield curve

    TORONTO, Nov 6 (Reuters) - The Canadian dollar edged lower
against its U.S. counterpart on Wednesday, trading in a narrow
range as investors awaited the outcome of trade talks between
the United States and China and Canada's jobs report loomed at
the end of the week.    
    At 9:08 a.m. (1408 GMT), the Canadian dollar          was
trading 0.1% lower at 1.3170 to the greenback, or 75.93 U.S.
cents. The currency, which notched a six-day high at 1.3116 on
Tuesday, traded in a range of 1.3140 to 1.3176.
    Global stock markets          steadied near record highs,
supported by rising optimism about a U.S.-China trade deal this
month and global business surveys indicating that tariff-hit
manufacturing sentiment has troughed.             
    Canada is a major exporter of commodities, including oil, so
its economy could benefit from an improved outlook for global
trade.
    U.S. crude oil futures        were up 0.1% at $57.28 a
barrel, turning higher after being pressured by a
larger-than-expected build in U.S. crude stocks and weak euro
zone economic figures.             
    Canada's employment report for October is due on Friday,
which can help guide expectations for the Bank of Canada policy
outlook.
    Last week, the central bank left its benchmark interest rate
on hold at 1.75% as it cut its economic growth forecasts and
expressed concern about trade uncertainty.
    Canadian government bond prices were higher across the yield
curve in sympathy with U.S. Treasuries. The two-year           
rose 5.5 Canadian cents to yield 1.61% and the 10-year
            was up 35 Canadian cents to yield 1.57%.
    On Tuesday, the 10-year yield reached a one-week intraday
high at 1.616%.
    Ontario, Canada's most populous province and manufacturing
heartland, was due to release a fiscal update on Wednesday
afternoon. Finance Minister Rod Phillips has indicated the
deficit for the current fiscal year, which ends on March 31,
will be lower than the C$10.3 billion shortfall estimated in
April's budget.

 (Reporting by Fergal Smith; editing by Jonathan Oatis)
  
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