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Loonie trades in a range of 1.4090 to 1.4124

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Price of oil falls 1.8%

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Wholesale trade declines 0.1% in October

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10-year yield touches a near two-week low

By Fergal Smith

TORONTO, Nov 25 (Reuters) - The Canadian dollar steadied

for a second straight day against its U.S. counterpart on

Tuesday as lower oil prices offset broad-based declines for the

greenback.

The loonie was trading nearly unchanged at 1.41 per

U.S. dollar, or 70.92 U.S. cents, after moving in a range of

1.4090 to 1.4124. On Friday, the loonie hit a two-week low of

1.4130.

The U.S. dollar slid as a slew of mixed economic data

reinforced expectations that the Federal Reserve will cut

interest rates next month and after a report saying that White

House economic adviser Kevin Hassett has emerged as the

frontrunner to be the next Fed chair.

"The loonie should be appreciating in line with its

counterparts, but that has not been playing out in practice,"

said Karl Schamotta, chief market strategist at Corpay.

A steeper U.S. yield curve as the Fed's credibility faces

scrutiny could be reducing the loonie's ability to capitalize on

lower short-term rates, Schamotta said.

Domestic data had little impact, with a preliminary estimate

showing that wholesale trade declined 0.1% in October from

September.

The price of oil fell 1.8% to $57.79 a barrel after

Ukraine hinted that an intense diplomatic push by the U.S.

administration to end Russia's war against it could be yielding

fruit. Oil is one of Canada's major exports, much of which goes

to the United States.

Canadian Prime Minister Mark Carney has pledged to double

the country's non-U.S. exports over the next decade. Canada and

India are close to finalizing an export agreement in a deal

valued at about US$2.8 billion, the Globe and Mail reported on

Monday, citing people familiar with the matter.

Canadian bond yields moved lower across the curve, tracking

moves in U.S. Treasuries. The 10-year was down 2.6

basis points at 3.148%, after touching its lowest level since

November 12 at 3.130%.