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Loonie trades in a range of 1.4092 to 1.4118

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Price of U.S. oil settles 1.3% higher

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Flash estimate shows factory sales down 1.1% in October

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Bond yields ease across the curve

By Fergal Smith

TORONTO, Nov 24 (Reuters) - The Canadian dollar steadied

against its U.S. counterpart on Monday, with the currency unable

to take advantage of improved risk appetite as investors awaited

domestic GDP data at the end of the week.

The loonie was trading nearly unchanged at 1.4105 per

U.S. dollar, or 70.90 U.S. cents, after moving in a narrow range

of 1.4092 to 1.4118. Earlier this month, the currency touched a

seven-month low at 1.4140.

"It's a lack of positive news for Canada at this point,"

said Amo Sahota, director at Klarity FX in San Francisco. "We've

got Canadian GDP coming out on Friday. I don't think anyone is

expecting a big beat there."

Analysts forecast that Canada's economy grew at an

annualized rate of 0.5% in the third quarter, which would be an

outcome that narrowly avoids a second-straight quarterly

contraction.

A preliminary estimate on Monday showed that Canadian factory

sales fell 1.1% in October from September, largely driven by

lower sales in the chemical and wood product subsectors.

Canada's economy has been held back this year by trade

uncertainty. The nation will resume trade discussions with the

United States "when it's appropriate," Canadian Prime Minister

Mark Carney said on Sunday.

Moves in the loonie have become "asymmetric," Sahota said,

adding that the currency "doesn't take its opportunities on days

when high-beta FX should do a little better."

High-beta currencies tend to be sensitive to shifts in

investor sentiment.

Wall Street rallied and the price of oil, one of

Canada's major exports, settled 1.3% higher at $58.84 a

barrel as growing bets on a Federal Reserve rate cut in December

fueled risk-taking.

Canadian government bond yields moved lower across the

curve, tracking moves in U.S. Treasuries. The 10-year

was down 2.6 basis points at 3.177%.