* C$ at C$0.9868 versus US$, or $1.0138
* Stocks and commodities broadly slip
* Currency holds gains notched last week
By Alastair Sharp
TORONTO, Jan 7 The Canadian dollar was little
changed against its U.S. counterpart on Monday as it held on to
gains notched late last week, with investors taking a
tentatively positive stance towards the global economy.
Stock markets and commodity prices stalled after a strong
run-up last week, in which the Canadian currency gained 1
percent after strong job growth and a partial deal reached in
U.S. debt talks.
"The Canadian dollar has retained its strength from last
Friday's employment data and the move that occurred then," said
John Curran, senior vice president at CanadianForex.
At 9:21 a.m. (1421 GMT), the Canadian dollar stood
at C$0.9868 to the greenback, or $1.0138, slightly stronger than
Friday's North American session close at C$0.9871 to the
greenback, or $1.0131.
It traded in a tight 26 basis point range, after moving
three-quarters of a cent on Friday.
Canada impressed investors with robust hiring data on
Friday, while U.S. employers kept up a steady pace of hiring and
manufacturing surveys pointed to growing activity in China.
Curran pointed to European data and central bank decisions
due mid-week as the next test for the Canadian currency, while
corporate earnings season is also about to kick off.
The currency also held up against the euro at
C$1.2881 after euro zone factory prices fell for the first time
in five months in November, giving the European Central Bank
ample room to consider another interest rate cut.
Tiff Macklem, a senior Bank of Canada official widely tipped
to replace the departing Governor Mark Carney as head of the
central bank, may hint at a future monetary policy when he
speaks about economic growth at a university on Thursday.
"If he comes out with a hawkish stance that will lend itself
to Canadian dollar strength," Curran said.
The two-year Canadian bond slipped 2 Canadian
cents to yield 1.212 percent, and the benchmark 10-year bond
fell 15 Canadian cents to yield 1.954 percent.