* C$ ends at C$0.9992 vs US$, or $1.0008 cents
* Bond prices mostly higher
By Jon Cook
TORONTO, Feb 27 The Canadian dollar edged
higher against its U.S. counterpart on Monday, helped by data
showing an improvement in the U.S. housing market, which fueled
hopes of stronger growth by Canada's largest trading partner.
U.S. pending home sales in January hit a near two-year high,
defying economists' expectations of a contraction and supporting
recent signs the U.S. housing market is improving.
"We're probably going to see the Canadian economy pick up
some of the momentum coming out of the States, assuming
commodity prices remain supportive of the rally overall even
though you get days like this where you get a pullback in oil
and a pullback in gold," said Andrew Pyle, a wealth advisor at
Oil prices pulled back after a string of higher settlements
as concerns that high energy costs might curb economic growth
countered supportive fears about Iran and potential supply
Gold prices also eased, as a weaker euro and oil's retreat
halted the metal's attempt to test technical resistance at above
$1,800 an ounce following last week's sharp rally.
The Canadian dollar finished at C$0.9992 versus the U.S.
dollar, or $1.0008, compared with Friday's close at C$0.9997 to
the U.S. dollar, or $1.0003.
The currency hit earlier C$1.0050, its weakest level since
Breaking beyond that level would open up the way towards
C$1.0150, said Adam Button, currency analyst at ForexLive in
The Canadian dollar and some other risk-averse assets
struggled early in the wake of a meeting of Group of 20 finance
ministers and central bankers.
The G20 policymakers said on Sunday they were "alert to the
risks of higher oil prices" and discussed at length the impact
that sanctions on Iran will have on crude supplies and global
Canadian bond prices edged higher across the curve. The
two-year bond was up a Canadian cent to yield 1.071
percent. The 10-year bond climbed 10 Canadian cents
to yield 2.012 percent.