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Bonds News

CANADA FX DEBT-C$ retreats from 5-month high as investors await U.S. stimulus

    * Canadian dollar dips 0.2% against the greenback
    * Price of U.S. oil rises 0.8%
    * Toronto-area housing sales volumes reach monthly record in
July
    * Canadian bond yields fall across a flatter curve

    TORONTO, Aug 6 (Reuters) - The Canadian dollar weakened
against the greenback on Thursday, with the currency pulling
back from a five-month high the day before as investors awaited
signs of agreement on U.S. economic stimulus and ahead of U.S.
and domestic jobs data on Friday.
    The loonie        was trading 0.2% lower at 1.3285 to the
greenback, or 75.27 U.S. cents. The currency, which on Wednesday
notched its strongest intraday level since Feb. 21 at 1.3229,
traded in a range of 1.3243 to 1.3303.
    Global shares          slipped after top congressional
Democrats and White House officials appeared to harden their
stances on new coronavirus relief legislation on Wednesday.
                        
    The price of oil, one of Canada's major exports, was
supported on Thursday by recent weakening of the U.S. dollar
       and falling U.S. crude inventories. U.S. crude       
prices were up 0.8% at $42.54 a barrel.
    Strategists are raising their forecasts for the Canadian
dollar as commodity prices rise and the domestic economy shows
signs of recovery, according to a Reuters poll.             
    Canada's employment report for July is due on Friday. It
could offer additional evidence of economic recovery after
nearly 1 million jobs were added in June.     
    Housing sales volumes in the area of Toronto, Canada's most
populous city, soared to a monthly record in July as buyers came
out in full force following a spring lull amid restrictions due
to the COVID-19 pandemic, the Toronto Regional Real Estate Board
(TRREB) said on Thursday.             
    Canadian government bond yields were lower across a flatter
curve, with the 10-year             down 4 basis points at
0.463%.   

 (Reporting by Fergal Smith; Editing by Steve Orlofsky)
  
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