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(Adds strategist quotes and details throughout; updates prices) * Canadian dollar falls 0.4% against the greenback * Loonie trades in a range of 1.2761 to 1.2843 * Price of U.S. oil settles 2.6% higher * Canadian bond yields trade mixed across the curve By Fergal Smith TORONTO, Feb 1 (Reuters) – The Canadian dollar lost ground against its U.S. counterpart on Monday, as domestic data showed factory activity growing at the slowest pace in six months and the recent strong ties the loonie has had with oil and stocks showed signs of weakening. The loonie was trading 0.4% lower at 1.2822 to the greenback, or 77.99 U.S. cents, having traded in a range of 1.2761 to 1.2843. It was the second straight session the loonie traded in the opposite direction of oil, one of Canada’s major exports, and stocks. It has a three-month rolling correlation of nearly 0.9 with the S&P 500 and U.S. crude futures , Refinitiv Eikon data shows, indicating the currency moves mostly in the same direction as those two markets. "I think we are witnessing a breakdown of the really high correlations within the ‘everything trade’ sparked by QE (quantitative easing)," said Greg Anderson, global […]
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