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CANADA FX DEBT-Canadian dollar slides as storage concerns pummel oil prices

    * Canadian dollar falls 0.7% against the greenback
    * Canadian wholesale trade rises 0.7% in February
    * Price of U.S. oil falls about 40%
    * Canadian bond yields decline across a flatter curve

    TORONTO, April 20 (Reuters) - The Canadian dollar weakened
against its U.S. counterpart on Monday as oil prices tumbled,
with investors overlooking domestic data that showed a surprise
increase for wholesale trade in February, before lockdowns
began.
    The price of oil, one of Canada's major exports, was
depressed by concern that U.S. crude storage will soon be full.
The front-month contract for U.S. crude       , which is due to
expire on Tuesday, plunged 40.1% to $10.94 a barrel, while Brent
crude         was down 6.8% at $26.17.             
    Canadian wholesale trade increased 0.7% in February from
January on stronger sales in the motor vehicles and motor
vehicle parts and accessories subsector, Statistics Canada said.
Analysts had forecast a 0.5% decrease.             
    In separate data, the Teranet-National Bank Composite House
Price Index showed prices of single-family homes were up 0.6% in
March from February.             
    At 9:46 a.m. (1346 GMT), the Canadian dollar          was
trading 0.7% lower at 1.4079 to the greenback, or 71.03 U.S.
cents. The currency traded in a range of 1.4020 to 1.4132.
    Speculators have trimmed their bearish bets on the Canadian
dollar, data from the U.S. Commodity Futures Trading Commission
showed on Friday. As of April 14, net short positions had fallen
to 23,760 contracts from 24,433 in the prior week.
    The number of people with the new coronavirus in Canada is
trending in the right direction but strict physical distancing
will need to stay in place, Prime Minister Justin Trudeau said
on Sunday.             
    Authorities across Canada have ordered the closure of
non-essential businesses, throwing millions out of work.
    Ottawa is rolling out more than C$200 billion of economic
support measures, while the Bank of Canada has slashed interest
rates by 150 basis points since March and begun buying Canadian
government bonds.
    Last week, the central bank said it would broaden its
asset-purchase, or quantitative easing, program to include
provincial and corporate debt.                 
    Canadian government bond yields fell across a flatter curve
in sympathy with U.S. Treasuries on Monday. The 10-year
            was down 2.6 basis points at 0.619%.
    Canada's inflation report for March is due on Wednesday.

 (Reporting by Fergal Smith; editing by Jonathan Oatis)
  
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