Canadian dollar claws back some losses but lags G10 peers
Summary
Canadian dollar gains 0.1% against the greenback
Trades in a range of 1.3841 to 1.3899
Price of oil settles 0.8% higher
Bond yields ease across the curve
TORONTO, April 24 (Reuters) - The Canadian dollar clawed back some of the previous day's losses against its U.S. counterpart on Thursday as oil prices rose and investors weighed confusion over U.S. tariff negotiations.
The loonie was trading 0.1% higher at 1.3870 per U.S. dollar, or 72.10 U.S. cents, the smallest advance among Group of 10 currencies, after trading in a range of 1.3841 to 1.3899.
"CAD gains are lagging those of most of its major currency peers though as spot stick to its recent trading range," strategists at Scotiabank, including Shaun Osborne, said in a note.
"The federal election is looming but may not have too much impact on CAD sentiment in the short run. The more immediate focus is on US trade policy and its impact on CAD prospects."
Canada's ruling Liberals remain in the lead ahead of the parliamentary election on Monday, but the gap with the trailing Conservatives is tightening, a rolling three-day poll showed.
The price of oil, one of Canada's major exports, settled 0.8% higher at $62.79 a barrel, recouping some of the previous day's decline.
Canadian payroll employment decreased by 49,000 in February, while average weekly earnings growth slowed to 5.4% year-over-year, data from Statistics Canada showed.
Canadian government bond yields moved lower across the curve, tracking moves in U.S. Treasuries. The 10-year was down 7.4 basis points at 3.175%.
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