By Fergal Smith

TORONTO (Reuters) -The Canadian dollar was barely changed against its U.S. counterpart on Monday as oil prices rose and investors awaited domestic inflation data that could guide expectations for the Bank of Canada policy outlook.

The loonie was trading nearly unchanged at 1.3814 per U.S. dollar, or 72.39 U.S. cents, after moving in a range of 1.3784 to 1.3831.

Canada’s consumer price index report for July is due on Tuesday. Economists expect the annual rate of increase in consumer prices to ease to 1.8% from 1.9% in June, but measures of underlying inflation that are closely tracked by the BoC are forecast to remain well above the central bank’s 2% target.

“Tomorrow’s Canadian inflation report should remain too hot for comfort,” Karl Schamotta, chief market strategist

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