CANADA FX DEBT-Canadian dollar set for weekly gain as economy rebounds

       * Canadian dollar rises 0.1% against the greenback
    * For the week, the loonie is on track to gain 1%
    * Flash estimate shows Canada's economy expanding 0.7% in
    * Canadian bond yields were mixed across the curve

    TORONTO, July 30 (Reuters) - The Canadian dollar edged up
against its U.S. counterpart on Friday, with the currency
holding onto this week's gains as a preliminary estimate showed
Canada's economy rebounding in June.
    The loonie          was trading 0.1% higher at 1.2431 to the
greenback, or 80.44 U.S. cents, after trading in a range of
1.2427 to 1.2472.
    It was on track to advance for the second straight week,
with a gain of 1%, as dovish remarks by the U.S. Federal Reserve
took the steam out of a month-long rally for the U.S. dollar.

    For the month, the loonie was down 0.3%.
    The Canadian economy most likely expanded by 0.7% in June as
businesses reopened after shutdowns imposed to help fight the
coronavirus pandemic, Statistics Canada said. The economy shrank
by 0.3% in May, matching a forecast by analysts.
    The price of oil, one of Canada's major exports, was also on
track to post a weekly gain, with demand growing faster than
supply and vaccinations expected to alleviate the impact of a
resurgence in COVID-19 infections across the globe. U.S. crude
       prices were up 0.1% at $73.7 a barrel.
    Canadian government bond yields were mixed across the curve,
with the 10-year             up half a basis point at 1.211%.
The Canadian bond market is due to close early ahead of the
Civic Holiday on Monday.

 (Reporting by Fergal Smith; editing by Emelia Sithole-Matarise)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.