CANADA FX DEBT-Canadian dollar gives back weekly gain as bond yields rebound - REUTERS
* Canadian dollar weakens 0.4% against the greenback
* Trades in a range of 1.3318 to 1.3395
* Canadian bond yields rise across curve
TORONTO, Nov 25 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday, with the currency giving back its gains from earlier in the week as global bond yields rebounded and investors eyed Black Friday sales for clues on the health of the U.S. economy.
The loonie was trading 0.4% lower at 1.3390 to the greenback, or 74.68 U.S. cents, after moving in a range of 1.3318 to 1.3395. For the week, it was on track to be nearly unchanged.
Yields on U.S. Treasuries and major European sovereign bonds rose after they were pressured this week by the Federal Reserve’s signal that it could slow the pace of interest rate hikes as soon as next month, while the U.S. dollar clawed back some recent declines against a basket of major currencies.
Wall Street’s main indexes were set for a subdued open, with investors closely monitoring the major retailers as Black Friday sales began against the backdrop of stubbornly high inflation and worries about a potential recession next year.
Canada sends about 75% of its exports to the United States, including oil.
Oil was up 1.2% at $78.86 a barrel, closing a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil.
Canadian government bond yields were higher across the curve, tracking the move in other sovereign debt markets.
The 10-year rose 4.8 basis points to 2.983%, after on Thursday touching its lowest intraday level in more than three months at 2.907%. (Reporting by Fergal Smith; Editing by David Holmes)