Reuters: US Dollar Report: CANADA FX DEBT-C$ weakens slightly ahead of data deluge

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CANADA FX DEBT-C$ weakens slightly ahead of data deluge Nov 1st 2012, 12:02 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Thu Nov 1, 2012 8:02am EDT * C$ at C$1.0002 versus US$, or $0.9998 * String of data on tap, payrolls on Friday * Weak GDP data weighs on sentiment By Alastair Sharp TORONTO, Nov 1 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Thursday as signs of a shrinking domestic economy weighed, while traders looked ahead to a string of data for further direction. At 7:45 a.m. (1145 GMT) the Canadian dollar was trading at C$1.0002 to the greenback, or $0.9998, compared with C$0.9990, or $1.0010, at Wednesday's North American close. The currency felt some pressure after weak gross domestic product data pointed to slower growth in the third quarter. "The moves overnight were fairly minor ... but for the day ahead there's a big focus on U.S. data," said Greg Moore, a foreign exchange strategist at TD Securities. That U.S. data includes a private measure of employment and a government reading of unemployment claims, productivity and labor cost data, manufacturing and construction numbers and a delayed index of consumer confidence. "However the bigger focus will still be on Friday's employment reports from both the U.S. and Canada. We usually see a quiet day ahead of that," Moore said. Canada's commodity-linked currency seemed to brush off signs that China's economy perked up in October. The price of government debt was flat to lower across the curve, with the two-year bond was off 1 Canadian cent to yield 1.077 percent, while the benchmark 10-year bond fell 10 Canadian cents to yield 1.794 percent. 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.

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