* C$ range C$1.2285-C$1.2200
* Market focus on Bank of Canada surveys
* Bonds mixed ahead of earnings reports
By Jennifer Kwan
TORONTO, April 13 (Reuters) - The Canadian dollar edged higher against the U.S. currency on Monday morning, but trade was subdued ahead of release of the Bank of Canada’s business outlook and senior loan officer surveys.
The surveys, which will be watched for more clues on business confidence and credit conditions in Canada, were set for release at 10:30 a.m. (1430 GMT) on Monday.
“Both of those reports will be watched closely to see whether we get any indication of an easing in terms of the pressures on the Canadian economy,” said Paul Ferley, assistant chief economist at Royal Bank of Canada.
At 9:33 a.m. (1333 GMT), the Canadian dollar was at C$1.2240 to the U.S. dollar, or 81.70 U.S. cents, up slightly from C$1.2252 to the U.S. dollar, or 81.62 U.S. cents, at Thursday’s close.
Ferley said the Canadian dollar was holding steady as the U.S. dollar was looking weaker.
“It’s just a reflection of some weakness in the U.S. dollar, which in turn, is sort of a reflection of the market seeming to be more upbeat in terms of the global and U.S. outlook, and with that starting to reverse some of the safe haven flows into the U.S. dollar,” he said.
He said the Canadian currency’s move higher on Monday was “fairly tentative” as markets brace for key earnings reports this week from companies such as Goldman Sachs (GS.N), JPMorgan (JPM.N), Citigroup (C.N) and General Electric (GE.N).
In March, several banks lit a fire under equity markets after making reassuring remarks about their profitability in the first two months of 2009. Equities rallied last week after Wells Fargo (WFC.N), the fourth largest U.S. bank, forecast a profit of $3 billion for the first quarter.
Markets in Canada were closed on Friday for the Easter holidays. Trade was thin on Monday with many Asian and European centers still shut. [ID:nSP447323]
Canadian bond prices were mixed as investors awaited earnings reports from major U.S. financial institutions this week. [ID:nT24078]
The two-year Canada bond was up 4 Canadian cents at C$100.31 to yield 1.104 percent, while the 10-year bond was off 3 Canadian cents to C$107.17 to yield 2.925 percent.
The 30-year bond was down 15 Canadian cents to C$123.80 to yield 3.641 percent. In the United States, the 30-year Treasury yielded 3.6935 percent. (Reporting by Jennifer Kwan; editing by Peter Galloway)