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CANADA FX DEBT-C$ hits 1-week low as threat to Keystone XL rattles investors - Reuters

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 (Adds strategist quotes and details throughout; updates prices)
    * Canadian dollar weakens 0.1% against the greenback
    * Loonie touches a one-week low at 1.2799
    * Canadian housing starts fall 12.2% in December 
    * Canadian government bond yields were mixed across the
curve

    By Fergal Smith
    TORONTO, Jan 18 (Reuters) - The Canadian dollar dipped
against the greenback on Monday, with investors dialing back
hopes of improved U.S.-Canada relations after a report
President-elect Joe Biden would cancel a permit for the Keystone
XL pipeline as one of his first acts in office.
    Biden is planning to cancel the permit for the $9 billion
project, perhaps as soon as his first day, according to a source
familiar with his thinking.             
    The Liberal party government of Prime Minister Justin
Trudeau has previously urged Biden not to halt construction of
the pipeline, which would move oil from the province of Alberta
to Nebraska.             
    "The Canadian dollar is indicating some disappointment on
the Keystone XL front," said Adam Button, chief currency analyst
at ForexLive.
    "Few market watchers were expecting the pipeline to be
approved but that it will be axed so quickly indicates that
Trudeau doesn't have much sway with Biden."
    The price of oil fell as fears over soaring COVID-19 cases
around the world and the slow pace of vaccination against the
coronavirus outweighed a better-than-expected quarterly rebound
for China's economy.             
    U.S. crude oil prices        were down 0.5% at $52.09 a
barrel, while the Canadian dollar        declined 0.1% to 1.2746
per greenback, or 78.46 U.S. cents. It touched its weakest since
last Monday at 1.2799.    
    Canada's economy will hit a major roadblock during the first
quarter of 2021 before gaining momentum in the next quarter,
according to economists in a Reuters poll.             
     Data from the national housing agency showed that Canadian
housing starts fell 12.2% in December compared with the previous
month to 228,279 units. Canada's inflation report for December
and a Bank of Canada interest rate decision are due on
Wednesday.                 
    Canadian government bond yields were mixed, with the 10-year
            up by less than half a basis point at 0.809%.

 (Reporting by Fergal Smith; Editing by Kirsten Donovan and
Jonathan Oatis)
  

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