Reuters: US Dollar Report: CANADA FX DEBT-C$ little changed, Spain hopes support

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

CANADA FX DEBT-C$ little changed, Spain hopes support Oct 2nd 2012, 13:58 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Tue Oct 2, 2012 9:58am EDT * C$ trades flat at C$0.9827, or $1.0176 * Hopes for Spain offer some support * Traders await employment data, central bank decisions * Currency gains against Australia dollar after rate cut By Alastair Sharp TORONTO, Oct 2 (Reuters) - The Canadian dollar was little changed against the U.S. currency on Tuesday, with hopes that Spain might soon accept a euro zone bailout offering some support as traders looked ahead to key North American employment data due on Friday. Canadian and U.S. stocks and some commodities also firmed as investors decided news on Spain's bailout plans was encouraging enough to warrant fresh buying. "There's a lot of stuff ahead and not much today, so people will probably sit on their hands for now," said Benjamin Reitzes, senior economist and foreign exchange strategist at BMO Capital Markets. At 9:31 a.m. (1331 GMT), the Canadian dollar was at C$0.9827, or $1.0176, unchanged from its close on Monday. Reitzes said the Canadian dollar would find support around C$0.9874 and the Sept. 5 session low of C$0.9920. He saw resistance at last week's high of C$0.9781. The Canadian dollar firmed against Australia's currency after the Reserve Bank of Australia cut interest rates to a three-year trough and left the door ajar for more easing. It climbed as high as C$1.0103 to the Australian dollar, or 98.98 Australian cents, its strongest level since Sept. 11. DATA, CENTRAL BANKS AHEAD Both Canada and the United States release monthly employment figures on Friday, while the European and Japanese central banks both make interest rate decisions this week. On Wednesday, payrolls processor ADP issues its U.S. jobs data and the Institute for Supply Management publishes data about non-manufacturing sectors of the U.S. economy. The European Central Bank will decide on Thursday whether to hold rates or cut them to offer further support for stumbling euro zone countries. The Bank of Japan is expected to keep monetary settings unchanged on Friday even as weakening Asian manufacturing activity clouds the outlook. The bank is seen preferring to spend some time reviewing the effect of its policy loosening last month. Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions