Reuters: US Dollar Report: CANADA FX DEBT-C$ firms as U.S. retail sales unexpectedly rise

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$ firms as U.S. retail sales unexpectedly rise May 13th 2013, 13:58 Tweet Share this Email Print Mon May 13, 2013 9:58am EDT * C$ at C$1.0095 vs US$, or 99.06 U.S. cents * U.S. retail sales up 0.1 pct * Bond prices lower across the curve By Solarina Ho TORONTO, May 13 (Reuters) - The Canadian dollar was slightly firmer against its U.S. counterpart on Monday, helped in part by U.S. retail sales which unexpectedly rose in April. U.S. retail sales, which account for about 30 percent of consumer spending, edged up 0.1 percent after a revised 0.5 percent decline in March. Economists polled by Reuters had expected it to drop 0.3 percent. "Retail sales have been supporting the Canadian dollar, providing some more insight that the U.S. economy may be slightly stronger than what was expected," said Charles St-Arnaud, an economist and currency strategist in New York with Nomura Securities. "It seems like we're going into a turn where indicators are showing that the U.S. economy is probably not as bad as feared." The United States is Canada's largest trading partner and stronger U.S. consumer spending is typically good for the Canadian dollar and Canada. At 9:47 a.m. (1347 GMT), the Canadian dollar was trading at C$1.0095 versus the U.S. dollar, or 99.06 U.S. cents, stronger than Friday's close at C$1.0112, or 98.89 U.S. cents. The Canadian dollar was mostly outperforming against other major currencies, including its commodities counterparts. It touched its strongest level against the Australian dollar since October 2012. St-Arnaud said the currency is expected to trade between C$1.0060 and C$1.0140, though it was likely to have an overall positive day. Still, commodities prices and equity markets were mostly weaker, which could temper gains. Looking ahead, U.S. and Canadian inflation data on Thursday and Friday will be this week's economic highlight. April inflation is expected to rise a very tame 0.1 percent in Canada. Prices for Canadian government bonds were generally lower across the curve. The two-year bond slipped 1.7 Canadian cents to yield 1.014 percent, while the benchmark 10-year bond lost 25 Canadian cents to yield 1.912 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.

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