January 18, 2010 / 2:31 PM / 10 years ago

CANADA FX DEBT-C$ edges higher as global stocks, oil firm

   * Higher at C$1.0258 to the US$, or 97.48 U.S. cents
 * Bond prices flat across curve
 * Trade quiet as U.S. markets closed due to holiday
 By Jennifer Kwan
 TORONTO, Jan 18 (Reuters) - The Canadian dollar edged
higher against the U.S. currency on Monday morning as firmer
prices of key Canadian exports oil and gold and firmness in
global equity markets boosted the currency.
 Raw material prices advanced on hopes for strong Chinese
demand and on a weaker dollar, lifting commodity shares and
global equities, while the euro hit a four-month low against a
broadly firmer pound. U.S. markets were closed on Monday for
Martin Luther King Jr. Day. [MKTS/GLOB]
 "Generally the market is starting the week on a positive
footing so equities are stronger and oil is stronger. There's a
U.S. holiday so flows are fairly light so far," said Camilla
Sutton, currency strategist at Scotia Capital.
 The price of oil climbed above $78 a barrel after falling
for five days, while bullion prices were also firmer. [O/R]
 At 9:09 a.m. (1409 GMT), the Canadian dollar was at
C$1.0258 to the U.S. dollar, or 97.48 U.S. cents, up from
Friday's finish at C$1.0294 to the U.S. dollar, or 97.14 U.S.
 Sutton also said the Canadian currency was supported by
domestic data that showed foreigners invested heavily in
Canadian bonds in November as credit markets recovered and the
Canadian dollar rose, pushing total purchases of Canadian
securities to C$10.54 billion in the month. [ID:nN18180480]
 Still, Canadian bond prices were virtually unchanged across
the curve as the market could not look to U.S. markets for any
significant guidance, said Sutton. [US/]
 (Editing by James Dalgleish)

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