February 13, 2018 / 2:28 PM / in 9 days

CANADA FX DEBT-C$ dips as oil prices and U.S. stocks lose ground

    * Canadian dollar at C$1.2592, or 79.42 U.S. cents
    * U.S. crude oil falls nearly 1 percent
    * Bond prices higher across the yield curve

    TORONTO, Feb 13 (Reuters) - The Canadian dollar edged lower
against its U.S. counterpart on Tuesday and underperformed
versus other major currencies as oil prices and U.S. stock index
futures fell.
    At 9:13 a.m. EST (1413 GMT), the Canadian dollar         
traded 0.1 percent lower at C$1.2592 to the greenback, or 79.42
U.S. cents. The currency traded in a range of C$1.2567 to
C$1.2606.
    The price of oil, one of Canada's major exports, declined
after a forecasting agency estimated world crude supply could
overtake demand this year, potentially undermining producer
efforts to curb supply.             
    U.S. crude        prices were down nearly 1 percent at
$58.72 a barrel. 
    U.S. stock futures pointed to another dip at the open for
Wall Street, potentially halting two days of gains that had
somewhat eased investors' nerves about a burgeoning market
correction.             
    Commodity-linked currencies such as the Canadian dollar tend
to underperform when stocks fall.    
    The U.S. dollar        lost ground against a basket of major
currencies including the Japanese yen amid speculation the Bank
of Japan could be close to dialing back record levels of
monetary stimulus.             
    Canadian government bond prices were higher across the yield
curve, with the two-year            up 1.5 Canadian cents to
yield 1.776 percent and the 10-year             rising 13
Canadian cents to yield 2.322 percent.
    The Canadian Real Estate Association will release its
monthly home sales report on Thursday. Canada's manufacturing
sales report for December is due on Friday.

 (Reporting by Fergal Smith; Editing by Jeffrey Benkoe)
  
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