* C$ touches high of 98.47 U.S. cents
* Leading composite, wholesale trade data supports C$
* Bond prices slightly lower across curve
By Jennifer Kwan
TORONTO, Nov 18 (Reuters) - Canada’s dollar rose against its U.S. counterpart on Thursday as a weak greenback and optimism Ireland may soon see a solution to its debt woes helped attract investors to higher-yielding currencies.
The currency also got a bounce from domestic data that showed Canada’s composite leading indicator rose 0.2 percent in October after dropping in September, while wholesale trade unexpectedly rose 0.4 percent in September. [ID:nSCLIME67B] [ID:nN18271262]
Global stocks rebounded on Thursday, while the euro recovered ground against the dollar as uncertainty about the Irish debt crisis ebbed. [FRX/]
Ireland’s central bank chief said on Thursday he expected Dublin to receive tens of billions of euros in loans from European partners and the IMF to shore up its shattered banks though the government said it had made no request yet. [FRX/]
“We’re just in a more positive tone. I think markets have calmed down overseas. Perhaps some sense that moving toward some resolution on the Irish sovereign risk issue has helped provide all currencies with a bit of a gain,” said David Tulk, senior macro strategist at TD Securities.
At 9:03 a.m. (1403 GMT), the Canadian dollar CAD=D4 stood at C$1.0171 to the U.S. dollar, or 98.32 U.S. cents, up from Wednesday’s finish at C$1.0243 to the U.S. dollar, or 97.63 U.S. cents.
Shortly after the domestic data on Thursday, the currency touched a session high of C$1.0155 to the U.S. dollar, or 98.47 U.S. cents.
“The Canadian data pretty much across the board was a little bit stronger than many people expected,” said Tulk.
Also supportive of the currency’s move higher was a bounce in the price of oil, a key Canadian export, which climbed toward $82 a barrel, while gold prices were also firmer. [O/R] [GOL/]
Canadian government bond prices were lower across the curve, tracking U.S. Treasuries lower as investors cut demand for safe-haven government debt on Irish aid optimism. [US/]
The two-year bond CA2YT=RR slipped 5 Canadian cents to yield 1.618 percent, while the 10-year bond CA10YT=RR sank 29 Canadian cents to yield 3.130 percent. (Editing by Jeffrey Hodgson)