Please use symbol entry at top right of page to search

CANADA FX DEBT-C$ pulls back from 3-week high as risk appetite cools

       * Canadian dollar weakens 0.2% against the greenback
    * Touches its strongest since May 5 at 1.2762
    * Flash estimate shows factory sales up 1.6% in April
    * Canadian bond yields rise across steeper curve

    TORONTO, May 24 (Reuters) - The Canadian dollar edged lower
against its U.S. counterpart on Tuesday as equity markets
globally gave back some of the previous day's rally and a
preliminary domestic estimate showed manufacturing sales
climbing in April.
    Shares slid worldwide as fears about weak earnings and
slowing economic growth punctured the recent mini-rally.

    Canada is a major producer of commodities, including oil, so
the loonie tends to be sensitive to prospects for the global
    Oil dipped as concerns over a possible recession and China's
COVID-19 curbs balanced tight global supply and an expected
pick-up in demand during the U.S. summer driving season.

    U.S. crude        prices eased 0.1% to $110.19 a barrel,
while the Canadian dollar        was trading 0.2% lower at
1.2790 to the greenback, or 78.19 U.S. cents. It touched its
strongest intraday level since May 5 at 1.2762.
    Canadian factory sales rose 1.6% in April from March,
largely driven by higher sales of petroleum and coal products,
Statistics Canada said in a flash estimate.
    A separate flash estimate for the same month showed that
wholesale trade rose 0.2%.
    Canadian government bond yields were higher across a steeper
curve as the market reopened following Monday's holiday for
Victoria Day. The 10-year             rose 3.8 basis points to

 (Reporting by Fergal Smith; Editing by Kirsten Donovan)

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.