Reuters: US Dollar Report: CANADA FX DEBT-C$ slightly weaker on thin volume; softens after Ivey

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$ slightly weaker on thin volume; softens after Ivey May 6th 2013, 14:51 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Mon May 6, 2013 10:51am EDT * C$ at C$1.0087 vs US$, or 99.14 U.S. cents * March building permits surge past expectations * Ivey PMI data weaker than expected * Canadian employment data on Friday in focus * Bond prices fall across curve By Solarina Ho TORONTO, May 6 (Reuters) - The Canadian dollar was marginally weaker against its U.S. counterpart on Monday as the U.S. dollar held firm following Friday's better-than-forecast U.S. employment data, though volumes were thin due to holidays in Britain and Japan. The Canadian currency weakened slightly following the release of Ivey Purchasing Managers Index data that showed the pace of business purchasing slowed more severely than expected in April. Earlier, the currency had briefly strengthened after the release of Canadian building permits data, which surged past expectations in March. "Building permits were better than expected. I don't think you're going to see too many buyers on a third-tier data like permits," said Benjamin Reitzes, senior economist and foreign exchange strategist at BMO Capital Markets. "We're going to wait until Friday's employment numbers in Canada before things get a little bit more exciting on the Canadian dollar front." At 10:16 a.m. (1416 GMT), the Canadian dollar, which was mostly stronger against other major currencies, was trading at C$1.0087 versus the U.S. dollar, or 99.14 U.S. cents, weaker than its Friday close at C$1.0078, or 99.23 U.S. cents. The currency's movements were expected to be subdued until Friday's Canadian employment data. The report is expected to show the economy added 15,000 jobs in April, while the unemployment rate held steady at 7.2 percent, according to a Reuters survey of analysts. Reitzes said currency traders are also looking for additional clues on what newly appointed Bank of Canada Governor Stephen Poloz will say about monetary policy. Prices for Canadian government bonds were lower across the curve. The two-year bond fell less than half a Canadian cent to yield 0.966 percent, while the benchmark 10-year bond slipped 3 Canadian cents to yield 1.774 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.

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