* C$ rises to C$0.9637 vs US$, or 1.0377
* Bond prices lower across curve
TORONTO, July 7 (Reuters) - The Canadian dollar edged up against its U.S. counterpart after a three-day slide, as oil prices and U.S. equity futures rose ahead of U.S. private payrolls data offering clues on the economic recovery.
The ADP national employment report was expected to show U.S. private hiring increased by 68,000 in June after 38,000 in May, a month that probably took the brunt of temporary factors such as layoffs from auto shutdowns. It will also give a valuable signal regarding the relative health of the service sector labor market. The ADP report at 8:15 a.m. (1215 GMT) comes ahead of Friday’s closely watched U.S. non-farm payrolls data.
“I think there’s a modest bias in favor of investor confidence this morning, slightly stronger bid judging by equities,” said Jack Spitz, managing director of foreign exchange at National Bank Financial, also noting moderate support from U.S. crude oil prices above $97 a barrel. [O/R]
The currency market, especially the euro, will be vulnerable to event risk however, ahead of a press conference by European Central Bank President Jean-Claude Trichet after the ECB raised interest rates as anticipated. [ID:nLDE7660BO]
At 7:56 a.m. (1156 GMT), the Canadian currency was at C$0.9637 against the greenback, or $1.0377, up from Wednesday’s North American finish at C$0.9656, or $1.0356.
Canadian bond prices were slightly lower across the curve, tracking U.S. Treasuries, driven by lower German debt futures as events in the euro zone continued to dominate sentiment. [US/]
Reporting by Claire Sibonney, Editing by Chizu Nomiyama
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