* Canadian dollar steadies near Friday’s nine-day low
* Home sales fall 3.1% in February
* Price of U.S. oil settles 2.1% higher
* Canadian 10-year yield rises to one-month high
TORONTO, March 18 (Reuters) – The Canadian dollar was
little changed against its U.S. counterpart on Monday, arresting
its recent decline, as oil prices rose and traders awaited
domestic inflation data that could offer clues on the prospect
of interest rate cuts.
The loonie was trading nearly unchanged at 1.3535 to
the U.S. dollar, or 73.88 U.S. cents, after hitting a nine-day
low at 1.3551 on Friday.
“A rebound in U.S. equities and firmer WTI crude oil prices
have helped to stall last week’s CAD weakness, with the market
likely to tread water until the release of tomorrow’s Canadian
CPI report for February,” said George Davis, chief technical
strategist at RBC Capital Markets.
The price of oil, one of Canada’s major…
