CANADA FX DEBT-C$ stays on track for best win streak in 6 years as it gains in July

    * Canadian dollar trades near unchanged against the
    * For the month, the loonie is on course to rise 1.1%
    * Canadian GDP rises 4.5% in May
    * Canadian bond yields rise across the curve

    TORONTO, July 31 (Reuters) - The Canadian dollar was little
changed against its U.S. counterpart on Friday but was on course
for its fourth straight monthly gain, its longest winning run in
six years, as domestic data showed the economy expanded more
than expected in May.
    Canadian gross domestic product rose by 4.5% in May, and a
preliminary flash estimate sees a further 5% increase in June as
the economy reopens following COVID-19 lockdowns, Statistics
Canada said. Economists had expected a 3.5% gain for May GDP.
    Separate data from Statistics Canada showed that the value
of Canadian building permits rose by 6.2% in June from May.
    The Canadian dollar        was trading nearly unchanged at
1.3421 to the greenback, or 74.51 U.S. cents. The currency
traded in a range of 1.3404 to 1.3439.
    For the month, the loonie was on track to rise 1.1%, helped
by broad-based weakness for the U.S. dollar, as rising
coronavirus cases in the United States weighed on the outlook
for its economy, and higher oil prices. U.S. crude oil futures
       were up 0.2% on Friday at $40.00 a barrel.             
    A fourth straight monthly gain for the Canadian dollar would
be the currency's longest winning streak since 2014.
    Canadian government bond yields were higher across the
curve, with the 10-year             up 2 basis points at 0.467%.
Earlier in the day, it touched its lowest intraday level since
March 9 at 0.412%.
    The bond market is due to close early ahead of a Canadian
civic holiday on Monday.

 (Reporting by Fergal Smith; editing by Jonathan Oatis)

Source: Read Full Article