Reuters: US Dollar Report: RPT-CANADA FX DEBT-C$ firms slightly as U.S. jobless claims fall

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RPT-CANADA FX DEBT-C$ firms slightly as U.S. jobless claims fall Mar 14th 2013, 13:57 Thu Mar 14, 2013 9:57am EDT * C$ at C$1.0263 vs US$, or 97.44 U.S. cents * C$ seen trading between C$1.0245 and C$1.0285 * U.S. jobless claims fall for third straight week * C$ touches strongest level against euro in nearly 2 mths By Solarina Ho TORONTO, March 14 (Reuters) - The Canadian dollar was marginally stronger than its U.S. counterpart on Thursday, even as better-than-expected U.S. jobless claims bolstered the greenback against a range of currencies. The U.S. dollar, which has been boosted by a string of positive surprises on the U.S. data front, hit a three-month peak versus the euro as the positive data contrasted with economic and political concerns in the euro zone. The loonie, as it is colloquially known, mirrored the U.S. dollar and touched its strongest level against the euro since January 23. "This move ... has been helped by a move lower in euro/CAD - it took out last week's lows and extended it a little bit and prompted some Canada strength on the cross," said Matt Perrier, a director of foreign exchange sales at BMO Capital Markets. "But we've had very little in the way of economic data at all this week in Canada to drive us and we've been stuck in a very narrow range." At 9:13 a.m. (1313 GMT), Canadian dollar was trading at C$1.0263 to the greenback, or 97.44 U.S. cents, compared with C$1.0273, or 97.34 U.S. cents, at Wednesday's North American close. The loonie, which was outperforming most major currency counterparts, is expected to trade between C$1.0245 and C$1.0285 on Thursday, according to RBC Capital Markets. The number of Americans filing new claims for unemployment benefits dropped for a third straight week last week, the latest indication the U.S. labor market recovery was gaining traction. There is little on the Canadian data front for the remainder of the week, although some analysts have said the currency could see some movement if Friday's report on existing home sales is particularly weak. Canadian data out Thursday, including reports on new home prices and capacity utilization, had little market impact. The price of Canadian government debt was lower across the curve, with the two-year bond off 6.5 Canadian cents to yield 1.009 percent, while the benchmark 10-year bond eased 40 Canadian cents to yield 1.963 percent. The bonds were offering its highest yields in about two weeks. Link this Share this Digg this Email Reprints

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