CANADA FX DEBT-C$ little changed after hitting more than 3-1/2-year peak vs U.S. dollar - Reuters

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    * Canadian dollar slightly higher against the greenback
    * Copper prices hit all-time high 
    * Canadian 10-year yield down slightly 

    NEW YORK, May 10 (Reuters) - The Canadian dollar rose to its
highest since mid-September 2017 on Monday, but was last little
changed on the day, drawing some support overall from firmer
commodity prices and generally higher yields compared with its
U.S. counterpart.
    Analysts said those two factors have helped shield the
Canadian dollar from the negative impact of the economy's
worse-than-expected jobs report last Friday.
    Canada's economy lost 207,100 jobs in April, more than
analysts' estimates of 175,000 job losses, with declines driven
by coronavirus restrictions in populous Ontario, Quebec and
British Columbia, data showed.             
    In morning trading, the loonie          was flat at 1.2119
per U.S. dollar, having earlier touched its strongest intraday
level since September 2017 at 1.2090.
    "Weak data in Canada was widely expected, given the April
lockdowns, and we do not think the data will deflect the BoC
(Bank of Canada) from its tapering trajectory," said Scotiabank
in a research note.
    The Canadian dollar has rallied against the greenback since
the Bank of Canada last month flagged that it could begin hiking
interest rates in late 2022 and cut the pace of its bond
purchases.
    Since roughly mid-April, the loonie has gained nearly 5%.
    The Canadian currency also rose as copper raced to a record
peak on Monday as investors worried about missing out on further
gains.
    Three-month copper on the London Metal Exchange        
climbed to an all-time high of $10,747.50 a ton after first
breaking through a decade-old record on Friday.             
    Canadian government bond yields were little changed across
the curve, with the 10-year             slightly down at 1.494%,
from 1.5% late on Friday.

 (Reporting by Gertrude Chavez-Dreyfuss; Editing by Steve
Orlofsky)
  

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May 10, 2021 at 09:11PM
https://www.reuters.com/article/canada-forex-idUSL1N2MU1LF

CANADA FX DEBT-C$ little changed after hitting more than 3-1/2-year peak vs U.S. dollar - Reuters

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