* C$ at C$1.0402 to U.S. dollar, or 96.14 U.S. cents
* Bond prices tick higher across curve
TORONTO, June 25 (Reuters) - Canada’s dollar rose against the U.S. currency on Friday, supported by steady oil prices and higher U.S. stock index futures, but was expected to trade in a fairly tight range ahead of a summit of Group of 20 advanced and emerging nations.
At 7:57 a.m. (1157 GMT), the Canadian dollar was at C$1.0402 to the U.S. dollar, or 96.14 U.S. cents, slightly higher than Thursday’s finish at C$1.0437 to the U.S. dollar, or 95.81 U.S. cents.
Supporting the unit’s move higher were oil prices, a key Canadian export, and firmer bullion prices. Also, U.S. stock index futures signaled a higher open. [O/R] [GOL/] [.N]
Market players were expected to monitor developments at two international summits in Canada this week, with leaders of the Group of Eight and G20 nations coming together to discuss priorities for a world emerging from recession. [ID:nN18322198]
“There’s a lot of headline risks from sideline comments and so I think the market is a bit worried about that,” said Camilla Sutton, currency strategist at Scotia Capital.
Price action in the foreign exchange market was fairly subdued throughout most of the overnight session with a moderate leaning toward risk aversion, RBC Capital Markets said.
There was no single catalyst, but a combination of factors possibly at play include a sell-off in BP shares on news that the first storm of the Atlantic hurricane season may hamper efforts to clean up the oil spill, as well as rising Greek CDS spreads, RBC said, noting resistance at C$1.0470 to the U.S. dollar and support of C$1.0380.
The currency’s move higher comes after weakening for a fourth consecutive session against the U.S. currency on Thursday, touching a two-week low earlier in the session at C$1.0470 to the U.S. dollar, or 95.51 U.S. cents.
Canadian government bond prices edged higher on Friday as investors eyed safer government debt on worries about the fragility of global economic recovery. [US/]
The two-year government bond CA2YT=RR ticked 2 Canadian cents higher to yield 1.574 percent, while the 10-year bond CA10YT=RR was up 5 Canadian cents to yield 3.227 percent. (Reporting by Jennifer Kwan, Editing by Chizu Nomiyama)
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