* C$ at C$1.1065 vs US$, or 90.38 U.S. cents
* Bond prices fell across the maturity curve
By Solarina Ho
TORONTO, March 13 The Canadian dollar
strengthened against the greenback on Thursday, underpinned by
stabilizing oil prices and tracking moves by other
commodities-linked currencies, which had been shaken the day
before by weaker-than-expected Chinese economic indicators.
Oil prices held steady, aided by continuing fears that a
dispute over Ukraine between Russia and Western powers could
escalate and disrupt supplies.
Copper prices recovered briefly from Wednesday's fall before
resuming their slide as weak Chinese data spurred further
concerns about the economic health of the world's second largest
"We strengthened in the overnight, but we seem to be
treading water a little bit here," said David Tulk, chief Canada
macro strategist at TD Securities.
"We're going to have to wait until we get some Canadian data
to get really determine sentiment one way or another."
With little domestic data to drive direction, the Canadian
dollar and its Australian and New Zealand counterparts had been
under pressure earlier this week as commodity prices softened.
Moves in the Canadian dollar are often be driven by
sentiment over commodities, as much of the country's oil,
mineral and food production are exported.
At 9:57 a.m. (1357 GMT), the Canadian dollar was at
C$1.1065 to the U.S. dollar, or 90.38 U.S. cents, stronger than
Wednesday's close of C$1.1116 or 89.96 U.S. cents.
The Canadian dollar briefly pared gains after U.S. data
showed retail sales rebounded in February, while new
applications for U.S. unemployment benefits touched a
three-month low last week.
Tulk said he expects the currency, which was outperforming
most other major players except for the Australian
and New Zealand dollars, to stick within a trading
range of C$1.1054 and C$1.1122 through the day.
The New Zealand dollar was bolstered by a rise in central
bank rates and hints of more to come, while
stronger-than-expected jobs data lifted the Aussie.
Canadian government bond prices were lower across the
maturity curve, with the two-year bond down 1
Canadian cent to yield 1.026 percent and the benchmark 10-year
down 5 Canadian cents to yield 2.461 percent.