TORONTO: The Canadian dollar was marginally firmer against its US counterpart on Monday as investors look toward comments from central bank officials at the annual Jackson Hole summit and domestic retail sales data later this week.
The world's top central bankers will be gathering at the annual central banking conference and markets will be closely watching for any signals on monetary policy direction.
Last week, the currency touched a two-week high against a US dollar weighed by political uncertainty, after Canadian data showed an uptick in the rate of underlying inflation and oil prices jumped.
At 9:35 a.m. ET (1335 GMT), the Canadian dollar was trading at C$1.2575 to the greenback, or 79.52 US cents, up 0.1 percent.
The currency was trading between C$1.2567 and C$1.2608.
The loonie's modest gains come even as US crude prices slipped 0.47 percent to $48.28 a barrel, as the late rally last week prompted investors to close positions at a higher price.
Domestic data showed wholesale trade slipping by 0.5 percent in June following eight consecutive monthly increases, greater than the 0.2 percent forecast by analysts.
Retail sales figures for June due on Tuesday will be the week's main data highlight, with a Reuters poll forecasting a modest 0.3 percent rise, but flat when autos sales are excluded.
Longer term Canadian government bond prices were lower across the maturity curve, with the two-year price flat to yield 1.244 percent and the benchmark 10-year rising 3 Canadian cents to yield 1.867 percent.
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