Reuters: US Dollar Report: CANADA FX DEBT-C$ slips as Fed meeting in focus

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

Get the best music Get a playlist of the best music from the best blogs delivered to your inbox, every Monday at Noon (Pacific Time). From our sponsors

CANADA FX DEBT-C$ slips as Fed meeting in focus Sep 13th 2013, 13:37 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Fri Sep 13, 2013 9:37am EDT * C$ at C$1.0333 vs US$ or 96.78 U.S. cents * Fed seen cutting bond-buying by $10 billion at next week's meeting * Japanese paper says Lawrence Summers soon named Fed chief * Bond prices rise across curve By Solarina Ho TORONTO, Sept 13 (Reuters) - The Canadian dollar eased marginally on Friday against its U.S. counterpart as investors positioned themselves ahead of next week's Federal Reserve meeting, where the Fed is widely expected to announce a modest scale-back of its stimulus program. Following last Friday's weaker than expected U.S. non-farm payrolls data, many traders and analysts expect the U.S. central bank to announce a modest $10 billion reduction in its $85 billion monthly bond-buying program. However, the uncertainty surrounding the Fed was further fueled by a Japanese newspaper report that said Lawrence Summers was tipped to replace Ben Bernanke as the next chief of the Federal Reserve. "The Nikkei article about Summers being the next Fed chairmen lifted the (U.S.) dollar across the board. The movement against CAD was really small," said Greg Anderson, global head of foreign exchange strategy for BMO Capital Markets in New York. "We're stuck until we get the Fed decision next Wednesday. That could easily move us one to two big figures, depending on the outcome. And I think everybody just wants to square up and stay neutral heading into that event." The Canadian dollar was trading at C$1.0333 versus the U.S. dollar, or 96.78 U.S. cents at 9:13 a.m. (1313 GMT), just a few basis points away from Thursday's North American close at C$1.0325, or 96.85 U.S. cents. The Canadian dollar, underperforming against most of its currency counterparts except for the Australian dollar , was not expected to trade beyond the day's highs and lows of around C$1.0320 and C$1.0350, said Anderson. Prices for Canadian government bonds were higher across the maturity curve, with the two-year bond up 1 Canadian cent to yield 1.280 percent and the benchmark 10-year bond rising 14 Canadian cents to yield 2.765 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