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CANADA FX DEBT-C$ weakens as oil dips, greenback climbs

Published 2017-05-09, 09:35 a/m
© Reuters.  CANADA FX DEBT-C$ weakens as oil dips, greenback climbs
USD/CAD
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CL
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HCG
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CA2YT=RR
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CA10YT=RR
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DXY
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* Canadian dollar at C$1.3725, or 72.86 U.S. cents

* Bond prices lower across yield curve

TORONTO, May 9 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Tuesday as oil priced dipped and the greenback climbed against a basket of major currencies.

The U.S. dollar .DXY posted broad gains as foreign exchange markets swung back to bets on improving growth and tighter monetary policy. The pickup in investor sentiment has been bolstered by historically low U.S. stock market volatility and last weekend's French presidential election result. crude CLc1 prices were down 0.37 percent at $46.26 a barrel, pressured by a rise in U.S. crude output that has shaken investors' faith in the ability of Organization of the Petroleum Exporting Countries to rebalance the market. is one of Canada's major exports.

At 9:20 a.m. ET (1320 GMT), the Canadian dollar CAD=D4 was trading at C$1.3725 to the greenback, or 72.86 U.S. cents, down 0.3 percent, according to Reuters data.

The currency traded in a range of C$1.3671 to C$1.3743.

The loonie hit a 14-year low on Friday at C$1.3793. It has been pressured recently by lower commodity prices, concerns about a possible North American Free Trade Agreement renegotiation and investor wariness about how the troubles of alternative lender Home Capital Group Inc HCG.TO could impact Canada's real estate market.

Home Capital said on Tuesday that an unnamed third party intends to buy up to C$1.50 billion in mortgages, an offer that comes as Canada's biggest non-bank lender attempts to halt customer withdrawals. for the Canadian dollar came as data showed the value of domestic building permits tumbled by 5.8 percent in March from February. Columbians head to the polls after a tight election race between the ruling right-of-center Liberal Party and the opposition left-leaning New Democratic Party. A loss for the Liberals could derail big oil and gas projects in the province.

Canadian government bond prices were lower across the yield curve in sympathy with U.S. Treasuries. The two-year CA2YT=RR fell 1.5 Canadian cents to yield 0.717 percent and the 10-year CA10YT=RR declined 31 Canadian cents to yield 1.623 percent.

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