TORONTO: The Canadian dollar was steady against the greenback in quiet trading on Tuesday as investors held off making bets ahead of Wednesday's release of minutes from the latest US Federal Reserve policy meeting and with no major domestic economic data on tap until week's end.
A key US Senate vote on Tuesday on approving the Keystone XL oil pipeline project could move the commodities-linked Canadian dollar, but any impact was not expected to be lasting. The TransCanada Corp pipeline, if approved, would transport more than 800,000 barrels per day of oil from the Alberta oil sands to the US Gulf Coast.
At 9:15 a.m. EST (1415 GMT), the Canadian dollar was at C$1.1294 to the US dollar, or 88.54 US cents, steady with Monday's finish of C$1.1296, or 88.53 US cents.
"It's been quiet so far this week. Volatility's been lower, volume's been lower. The Canadian dollar's taking the backseat a little bit," said David Bradley, director of foreign exchange trading at Scotiabank.
"There's some cross activity going through as well ... which has been keeping us trapped in a bit of a range also."
Canadian government bond prices rose across the maturity curve, with the two-year up half a Canadian cent to yield 1.003 percent, and the benchmark 10-year climbing 15 Canadian cents to yield 2.008 percent.
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