Reuters: US Dollar Report: CANADA FX DEBT-C$ slips ahead of U.S., Canada jobs data

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$ slips ahead of U.S., Canada jobs data Dec 7th 2012, 13:06 Fri Dec 7, 2012 8:06am EST * C$ down to C$0.9932 vs US$, or $1.0068 in narrow range * Canada bond prices creep up across the curve By Claire Sibonney TORONTO, Dec 7 (Reuters) - The Canadian dollar eased against the U.S. dollar in early trading on Friday following three straight days of gains, but moves were limited ahead of jobs reports from both Canada and the United States. Economists expect the United States to have added 93,000 jobs and Canada to have added 10,000 jobs. Both releases are due at 8:30 a.m. (1330 GMT). "Unless we're really far off expectations ... the U.S. is going to overshadow Canada," said David Bradley, director of foreign exchange trading at Scotiabank. "If the U.S. comes in quite a bit stronger, it's probably going to be a risk-on environment, so you're going to see the U.S. dollar sell off, equities rally, and you should see commodity currencies do better." Until then, the currency was seen taking cues from global equities, which also edged lower on uncertainty over U.S. budget plans and the darkening outlook for the European economy. Germany's central bank said it expected Europe's largest economy to grow just 0.4 percent in 2013, and pointed to risks of a recession as the euro zone debt crisis takes its toll. At 7:50 a.m., the Canadian dollar stood at C$0.9932 versus the greenback, or $1.0068, compared with Thursday's North American session close at C$0.9911, or $1.0090 U.S. cents. The currency was trading in a tight range between C$0.9910-C$0.9934. Canada's dollar hit a one-month high in the previous session, building on gains from earlier in the week after the Bank of Canada kept its bias towards future rate hikes. Bradley said U.S. dollar support was seen around Thursday's low of C$0.9892 and resistance near C$0.9955-C$0.9965. "There are plenty of corporate offers around on the top side now, sovereign type names as well looking to sell (U.S.) dollar/Canada towards C$0.9950. We'd have to get a really negative number for dollar/Canada to trade through that level," he said. Canadian bond prices crept up across the curve, with the two-year bond rising 2 Canadian cents to yield 1.033 percent, and the benchmark 10-year bond climbing 13 Canadian cents to yield 1.679 percent. Link this Share this Digg this Email Reprints

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