Reuters: US Dollar Report: CANADA FX DEBT-C$ tracks world shares lower ahead of Fed

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CANADA FX DEBT-C$ tracks world shares lower ahead of Fed Aug 30th 2012, 12:13 Tweet Share this Email Print Thu Aug 30, 2012 8:13am EDT * C$ slips to C$0.9916 vs US$, or $1.0085 * Bond prices climb across the curve By Claire Sibonney TORONTO, Aug 30 (Reuters) - Canada's currency fell against the U.S. dollar on Thursday, weighed by uncertainty over central bank action to stimulate the global economy. Markets are waiting to see whether U.S. Federal Reserve Chairman Ben Bernanke will provide any hints of a third round of quantitative easing at a meeting of central bankers in Jackson Hole, Wyoming, on Friday. Investors' reluctance to take on big bets before Friday dragged down world shares on Thursday, and with them, other riskier assets such as the Canadian dollar, too. "It looks like it's another day of markets being slightly negative for risk and CAD being carried along by that," Adam Cole, global head of foreign exchange strategy at RBC Capital Markets in London. Traders also expressed some doubts about the European Central Bank's next steps to tackle the region's three-year-old debt crisis. The ECB is expected to unveil concrete plans to help crimp crippling borrowing costs in Spain and Italy at a policy meeting on Sept. 6. At 7:56 a.m. ET (1156 GMT), the Canadian dollar stood at C$0.9916 versus the greenback, or $1.0085, down from Wednesday's close at C$0.9895 against the U.S. unit, or $1.0106. North American economic data due to be released later on Friday, including U.S. weekly jobless claims, may provide markets with further direction. Beyond the Canadian dollar's session low around C$0.9920, analysts pointed to support near the 50-, 100- and 200-day moving averages, approaching C$1.01 on the other side of parity. Canadian bond prices crept up across the curve, with the two-year bond up 2 Canadian cents to yield 1.130 percent and the benchmark 10-year bond up 15 Canadian cents to yield 1.785 percent. Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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