By Jennifer Kwan TORONTO, July 10 (Reuters) - The Canadian dollar weakened against the U.S. currency on Friday, logging its fourth straight week of declines, as commodity prices sagged on uncertainty about a global economic recovery and economic data came in mixed. In choppy action, the currency rallied as high as C$1.1615 to the U.S. dollar, or 86.10 U.S. cents, shortly after data showed fewer Canadians lost their jobs in June than expected. But it quickly relinquished all its gains and turned lower against the greenback, partly because the jobs report revealed that the only strength came from part-time employment and that recession still gripped the economy. The currency was kept lower as trade data showed plunging energy and autos exports pushed Canada to its largest trade deficit ever in May at C$1.42 billion, widening from a deficit of C$389 million in April. Adding to the mix was a survey on Friday that showed the mood of U.S. consumers had soured in early July on persistent worries about jobs. 'It continues to be doubts over the global economic picture and just how close the economy, particularly in North America, is to a recovery,' said Peter Buchanan, senior economist at CIBC World Markets. The Canadian currency finished at C$1.1647 to the U.S. dollar, or 85.86 U.S. cents, down from C$1.1623 to the U.S. dollar, or 86.04 U.S. cents, at Thursday's close. The unit was down 0.26 percent for the week, its fourth straight weekly decline. The currency was also pressured by weak commodity prices, often key drivers of the Canadian dollar given the nature of the country exports. Oil prices settled below $60 a barrel in their biggest weekly decline since late January as traders focused on economic uncertainty and the outlook for demand. Gold and base metals also sagged. In recent sessions, there has been some inter-day movement but the currency has largely opened and closed at similar levels, said Brendan McGrath, senior foreign exchange trader at Custom House. 'This is just a sign of uncertainty,' he said. BONDS HIGHER Bond prices were largely higher across the curve as investors sought assets perceived to be safer, following the bigger U.S. Treasury market higher as the consumer confidence reading intensified doubts a about quick economic recovery. 'People are a little more concerned with the security of their holdings so that makes government debt more appealing,' said Buchanan. The two-year Canada bond was up 3 Canadian cents at C$100.16 to yield 1.163 percent, while the 10-year bond climbed 25 Canadian cents to C$103.95 to yield 3.278 percent. The 30-year bond was up 20 Canadian cents to C$119.30 to yield 3.863 percent. In the United States, the 30-year bond yielded 4.1925 percent. Canadian bonds mostly underperformed U.S. issues across the curve. The Canadian 30-year bond was 33 basis points below the U.S. 30-year yield, compared with about 43 basis points below on Thursday. (Reporting by Jennifer Kwan; editing by Rob Wilson) ============================================================== FOR CANADIAN MARKETS NEWS, CLICK ON CODES IN BRACKETS: Canadian dollar and bonds report................... TSX market report........................................ Headlines from global forex markets .................. Bank of Canada weekly t-bill auction.................. Bank of Canada securities auctions.................... Bank of Canada interest rate story.................... Reuters monthly Canadian dollar poll.. Canadian interest rate poll.......................... Reuters G7 quarterly economy poll................... Weekly economic data poll..................... Reuters global stocks poll (Canada)... Top News: Canada .................................... 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