By Fergal Smith

TORONTO, March 14 (Reuters) - The Canadian dollar strengthened against its U.S. counterpart on Friday, clawing back much of its weekly decline, as equity markets rebounded and Mark Carney was sworn in as the country's prime minister.

The loonie CAD= was trading 0.4% higher at 1.4385 per U.S. dollar, or 69.52 U.S. cents, after trading in a range of 1.4371 to 1.4447.

"It's a bit higher, mostly because U.S. equities are seeing a slight rebound," said Howard Du, an FX Strategist at BofA Securities.

U.S. stocks rose after a broad selloff on Wall Street earlier this week as investors assessed the fallout of tariff policies on economic growth, while new data signaled deteriorating consumer sentiment and a surge in inflation expectations.

Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to the signal stocks send about the economic outlook.

The swearing in of Carney as Canada's prime minister puts a former central banker in charge of the country and its economy.

"The market sees it as modestly positive for Canada and the Canadian dollar," Du said. "But overall it's still going to be the global macro dynamic, tariffs, that drive dollar-CAD."

For the week, the currency was down 0.1% as the trade war between the U.S. and other countries, including Canada, heated up and after the Bank of Canada cut its benchmark interest rate further to support the economy.

Domestic data showed that wholesale trade grew 1.2% in January from December and that manufacturing sales were up 1.7%.

The price of oil rose 0.8% to $67.06 a barrel as investors weighed the diminishing prospects of a quick end to the Ukraine war.

Canadian bond yields edged lower across the curve even as U.S. Treasury yields climbed. The 10-year CA10YT=RR was down 1.1 basis points at 3.040%.

(Reporting by Fergal Smith; Editing by Paul Simao)

((fergal.smith@thomsonreuters.com; +1 647 480 7446;))