  In this paper we investigate the X-ray spectra and X-ray spectral variability
of compact X-ray sources for 3 Chandra observations of the Local Group galaxy
M33. The observations are centered on the nucleus and the star forming region
NGC 604. In the observations 261 sources have been detected. For a total of 43
sources the number of net counts is above 100, sufficient for a more detailed
spectral fitting. Of these sources, 25 have been observed in more than one
observation, allowing the study of spectral variability on ~months timescales.
A quarter of the sources are found to be variable between observations.
However, except for two foreground sources, no source is variable within any
observation above the 99% confidence level. Only six sources show significant
spectral variability between observations. A comparison of N_H values with HI
observations shows that X-ray absorption values are consistent with Galactic
X-ray binaries and most sources in M33 are intrinsically absorbed. The pattern
of variability and the spectral parameters of these sources are consistent with
the M33 X-ray source population being dominated by X-ray binaries: Two thirds
of the 43 bright sources have spectral and timing properties consistent with
X-ray binaries; we also find two candidates for super-soft sources and two
candidates for quasi-soft sources.
