November 21, 2018 / 2:30 PM / a month ago

CANADA FX DEBT-C$ firms as oil prices and stocks rebound

    * Canadian dollar rises 0.1 percent against the greenback
    * Price of U.S. oil rises 1.7 percent
    * Canadian wholesale trade falls 0.5 percent in September
    * Canadian bond prices trade mixed across the yield curve

    TORONTO, Nov 21 (Reuters) - The Canadian dollar edged higher
against its broadly weaker U.S. counterpart on Wednesday, as a
rebound in oil prices and stocks offset domestic data showing a
surprise decline in wholesale trade for the month of September. 
    Canadian wholesale trade decreased by 0.5 percent in
September from August, as weaker sales in the machinery,
equipment and supplies subsector led the decline, Statistics
Canada said. Analysts surveyed by Reuters had forecast a 0.3
percent increase.
    The price of oil, one of Canada's major exports, clawed back
some of the previous day's 6 percent plunge, lifted by a report
of an unexpected decline in U.S. crude inventories.             
    U.S. crude        prices were up 1.7 percent at $54.32 a
barrel, while U.S. stock futures bounced after a brutal two-day
sell-off pushed the S&P 500 and the Dow Jones Industrial Average
into the red for the year.             
    The U.S. dollar        fell against a basket of major
currencies as the euro was boosted by hopes for a compromise in
the row over Italy's budget.             
    At 9:14 a.m. (1414 GMT), the Canadian dollar          was
trading 0.1 percent higher at 1.3288 to the greenback, or 75.26
U.S. cents.
    The currency, which touched its weakest level in nearly five
months on Tuesday at 1.3318, traded in a range of 1.3271 to
1.3317.
    Canadian Prime Minister Justin Trudeau's government will
release a regular fall budget update at about 4 p.m. (2100 GMT).
The update comes less than a year before the next national
election.
    Canada's inflation report for October and September retail
sales data are due on Friday.
    Canadian government bond prices were mixed across the yield
curve, with the two-year            down 0.2 Canadian cent to
yield 2.217 percent and the 10-year             rising 1
Canadian cent to yield 2.349 percent.
    On Tuesday, the 10-year yield touched its lowest in more
than two months at 2.332 percent.

 (Reporting by Fergal Smith
Editing by Nick Zieminski)
  
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