for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

CANADA FX DEBT-Loonie claws back some of its weekly decline as oil rallies

    * Canadian dollar rises 0.1% against the greenback
    * Price of U.S. oil increases 6.8%
    * Loonie is on track to fall 0.5% for the week
    * Canadian bond yields trade mixed across the curve

    By Fergal Smith
    TORONTO, April 24 (Reuters) - The Canadian dollar edged
higher against its U.S. counterpart on Friday as the price of
oil extended its rebound from historically depressed levels, but
the loonie was on track to end the week lower.
    At 9:22 a.m. (1322 GMT), the Canadian dollar          was
trading 0.1% higher at 1.4056 to the greenback, or 71.14 U.S.
cents. The currency, which was down 0.5% for the week, traded in
a range of 1.4026 to 1.4115.
    "The CAD remains a slave to flows and risk appetite,"
strategists at Scotiabank said in a note. "While markets remain
somewhat reluctant to embrace risk more fully, the CAD will
likely struggle to extend gains much below 1.40 for the moment."
    Canada runs a current account deficit and is a major
exporter of commodities, including oil, so the loonie tends to
be sensitive to the global flow of trade and capital.  
    U.S. crude oil futures        were up 6.8% at $17.62 a
barrel but were headed for their third straight weekly loss as
production shutdowns failed to keep pace with sliding demand due
to the coronavirus crisis.             
    On Monday, U.S. oil fell into negative territory for the
first time, to minus $37.63 a barrel.    
    Ottawa is rolling out more than C$200 billion ($142 billion)
in measures to support Canada's economy, while the Bank of
Canada has slashed interest rates by 150 basis points since
March and begun buying Government of Canada bonds.
    Canadian government bond yields were mixed across the curve
on Friday, with the 10-year             down less than one basis
point at 0.594%.

 (Reporting by Fergal Smith
Editing by Nick Zieminski)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up