The Canadian dollar edged lower against its U.S. counterpart on Tuesday as a drop in oil prices offset optimism that a deal to raise the U.S. debt ceiling would be passed by Congress. The loonie was trading 0.1% lower at 1.36 to the greenback, or 73.53 U.S. cents, after moving in a range of 1.3568 to 1.3613. "Under the hood, in terms of the fundamentals, you have got yield spreads giving it support and then weaker oil prices moving against it," said Eric Theoret, global macro strategist at Manulife Investment Management.

The Canadian dollar edged higher against its U.S. counterpart on Monday, clawing back some recent declines, as a deal to temporarily suspend the U.S. debt ceiling boosted investor sentiment. The loonie was trading 0.2% higher at 1.3584 to the greenback, or 73.62 U.S. cents, after moving in a range of 1.3584 to 1.3618. "The Canadian dollar has been able to extend its bounce from Friday thanks to a constructive risk mood following this past weekend's U.S. debt ceiling deal," said Erik Bregar, director, FX & precious metals risk management at Silver Gold Bull.

The Canadian dollar weakened to a near one-month low against the greenback on Thursday as U.S. bond yields moved higher and the outcome of talks in Washington to raise the debt ceiling remained uncertain. The loonie was trading 0.3% lower at C$1.3635 to the greenback, or 73.34 U.S. cents, after touching its weakest intraday level since April 28 at 1.3644. "It has been all about the U.S. debt ceiling again today, with higher U.S. yields boosting the USD across the board," said George Davis, chief technical strategist at RBC Capital Markets.

The Canadian dollar weakened to a near three-week low against U.S. counterpart on Wednesday, tracking declines for other risk-sensitive currencies, as investors worried that U.S. debt ceiling talks are not making sufficient progress. The loonie was trading 0.6% lower at C$1.3590 to the greenback, or 73.58 U.S. cents, after touching its weakest intraday level since May 4 at 1.3605. "I think it's a concern that there is no obvious sign at this point of getting a (debt ceiling) deal put together quickly," said Shaun Osborne, chief currency strategist at Scotiabank.

The Canadian dollar was little changed against its U.S. counterpart on Tuesday, clawing back its earlier losses, as oil prices rose and the greenback posted broad-based gains. "The Canadian dollar has been on the defensive since Monday morning due to widespread demand for U.S. dollars," Rahim Madhavji, president at Knightsbridge Foreign Exchange, said in a note. Wall Street indexes fell as deadlocked U.S. debt ceiling talks kept investors jittery on prospects of an unprecedented government default but the price of oil, one of Canada's major exports, settled 1.2% higher at $72.91 a barrel.

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The Canadian dollar edged lower against its U.S. counterpart on Friday but held on to much of its weekly gain, as domestic data showed retail sales fell in March and negotiations to raise the U.S. debt ceiling paused. The loonie edged 0.1% lower to 1.3510 to the greenback, or 74.02 U.S. cents, after trading in a range of 1.3470 to 1.3523. "The rise in the Canadian inflation rate, reported earlier this week, has increased the odds of a Bank of Canada rate hike," said Tony Valente, a senior FX dealer at AscendantFX.

The Canadian dollar weakened against its U.S. counterpart on Thursday as oil prices fell and Bank of Canada Governor Tiff Macklem stopped short of endorsing the market's recent move to price in another interest rate hike by the central bank. Macklem suggested April's inflation increase - the first in 10 months - was an anomaly and said consumer prices would continue to come down, in comments following the release of the BoC's financial system report. "I think this is one of those platforms where it probably wasn't appropriate to talk about policy ... I don't get a sense that he wanted to provide much by way of new information at all," said Ian Pollick, global head, FICC strategy at CIBC Capital Markets.

The Canadian dollar strengthened against its U.S. counterpart on Wednesday as risk appetite rose and investors raised bets on another interest rate hike by the Bank of Canada, but the move was not enough for the currency to break out of its recent range. The loonie was trading 0.3% higher at 1.3445 per U.S. dollar, or 74.38 U.S. cents, which was toward the middle of its range since the start of the month of roughly 1.33 to 1.36. "We're seeing the Canadian dollar follow risk markets higher and oil markets higher ... but broader picture we're really rangebound," said Michael Goshko, senior market analyst at Convera Canada ULC.

TORONTO (Reuters) -The Canadian dollar weakened against its U.S. counterpart on Thursday, posting its biggest decline since early March, as oil prices fell and U.S. data added to evidence that the economy is slowing down. The loonie was trading 0.8% lower at C$1.3490 to the greenback, or 74.13 U.S. cents, its biggest decline since March 7. "Looks like a mix of lower oil prices and a reaction to the US PPI and initial claims reading," said Amo Sahota, director at Klarity FX in San Francisco.