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Canadian dollar holds near 11-day high ahead of Wilkins speech

Published 2019-11-19, 09:28 a/m
© Reuters.  Canadian dollar holds near 11-day high ahead of Wilkins speech
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* Canadian dollar little changed against greenback

* Loonie touches strongest since Nov. 8 at 1.3190

* Price of U.S. oil decreases by 1.5%

* Canadian factory sales fall 0.2% in September

TORONTO, Nov 19 (Reuters) - The Canadian dollar was little changed against its U.S. counterpart on Tuesday, holding near an earlier 11-day high as domestic factory sales fell less than expected and a speech loomed by a senior Bank of Canada official.

Canadian factory sales decreased by 0.2% in September from August, hampered by partial shutdowns for maintenance at some refineries as well as the impact of a United Auto Workers strike in the U.S., data from Statistics Canada showed. Analysts had forecast a 0.6% decrease. data showed Canadian home prices fell in October for the first time in six months but an underlying upswing was maintained. of Canada Senior Deputy Governor Carolyn Wilkins will speak on Tuesday on safeguarding the Canadian financial system. The central bank will release her prepared remarks at 13:00 ET (1800 GMT).

Canada's inflation report for October is due on Wednesday, while Bank of Canada Governor Stephen Poloz is due to speak on Thursday on economic change.

In October, the central bank left the door open to a possible interest rate cut over the coming months to help the economy weather the damaging effects of global trade conflicts. 9:04 a.m. (1404 GMT), the Canadian dollar CAD=D4 was trading nearly unchanged at 1.3208 to the greenback, or 75.71 U.S. cents. The currency touched its strongest intraday level since Nov. 8 at 1.3190.

The 11-day high for the loonie came as world shares touched their highest in nearly two years on predictions of future economic growth and bets the United States and China can end their damaging and prolonged trade dispute. price of oil, one of Canada's major exports, was pressured by higher-than-expected Norwegian oil output and forecasts of rising U.S. crude inventories. U.S. crude oil futures CLc1 fell 1.5% to $56.18 a barrel. government bond prices were little changed across the yield curve, with the two-year CA2YT=RR down 1 Canadian cent to yield 1.546% and the 10-year CA10YT=RR flat to yield 1.486%.

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