Reuters: US Dollar Report: CANADA FX DEBT-C$ recoups some of recent losses as global sentiment improves

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CANADA FX DEBT-C$ recoups some of recent losses as global sentiment improves Apr 18th 2013, 14:05 Tweet Share this Email Print Thu Apr 18, 2013 10:05am EDT * C$ at C$1.0260 vs US$, or 97.47 U.S. cents * U.S. jobless claims help ease concerns over job market * Traders eye interview with Bank of Canada's Carney * Friday's Canadian inflation data in focus * Bond prices mixed By Solarina Ho TORONTO, April 18 (Reuters) - The Canadian dollar was modestly stronger against its U.S. counterpart on Thursday, tracking global equity and commodity markets that recouped some of this week's heavy losses. Global markets took a pause amid a lack of major economic news and data after selling off sharply this week on concerns about the global economic outlook. "We're seeing better equity markets, we're also seeing some decent gains in the commodities," said Charles St-Arnaud, economist and currency strategist at Nomura Securities in New York. "It's slightly improved risk-sentiment. It follows almost three or four days or very negative sentiment." Crude oil prices in particular rebounded, with dealers saying it looked oversold. U.S. data showed the number of Americans filing new claims for unemployment benefits rose only slightly last week, holding near a level economists normally associate with average monthly job gains of more than 150,000. This helped ease concerns of a deterioration in labor market conditions. At 9:10 a.m. EDT (1310 GMT), the Canadian dollar was trading at C$1.0260 versus the U.S. dollar, or 97.47 U.S. cents. This was stronger than Wednesday's North American finish at C$1.0266, or 97.41 U.S. cents. Canada's performance was mixed against other major currencies. It was also stronger than the Japanese yen , but weaker than the euro and the sterling . St-Arnaud said the Canadian currency could trade between C$1.02 and C$1.03 for the remainder of the week after recent volatility. The Canadian dollar weakened against its U.S. counterpart on Wednesday after the Bank of Canada chopped its growth forecasts, although losses were limited by the bank holding to its view that interest rates would need to rise at some point. Traders will watch for further hints on monetary policy from Bank of Canada Governor Mark Carney when he participates in a Thomson Reuters Newsmaker event in Washington on Thursday. () Canadian inflation data on Friday, which is expected to be very tame, is the only major economic data remaining this week. Canadian government bond prices were mixed, with the two-year bond shedding 0.8 of a Canadian cent to yield 0.936 percent, while the benchmark 10-year bond climbed 8 Canadian cents to yield 1.706 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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