Reuters: US Dollar Report: CANADA FX DEBT-Canada dollar little changed, focus on Fed speakers

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CANADA FX DEBT-Canada dollar little changed, focus on Fed speakers Sep 23rd 2013, 13:49 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Mon Sep 23, 2013 9:49am EDT * C$ at C$1.0284 against U.S. dollar * With few catalysts, investors to parse Fed commentary * Bond prices mixed across the curve By Leah Schnurr TORONTO, Sept 23 (Reuters) - The Canadian dollar was little changed on Monday as investors saw few reasons to place big bets while they mulled the potential path of monetary policy south of the border. An election win for Germany's Angela Merkel and upbeat economic data from Europe and China failed to elicit much response from the Canadian dollar. "For Canada, it's just a matter of being stuck in the middle," said Camilla Sutton, chief currency strategist at Scotiabank. "We're seeing U.S. dollar weakness against some currencies but all in all, things are pretty quiet as we enter the new week." The Canadian dollar was at C$1.0284 to the U.S. dollar, or 97.23 U.S. cents, slightly stronger than Friday's session close of C$1.0299, or 97.10 U.S. cents. Three Fed policymakers are scheduled to speak on Monday, coming on the heels of a round of speeches late last week as investors seek clarity into the central bank's decision to hold the pace of its economic stimulus steady. Markets had been expecting a small reduction in the $85 billion worth of bonds the Fed is buying each month to prop up the recovery. Among the Fed speakers last week, markets appeared to focus on St. Louis Fed chief James Bullard's comments that the Fed could still decide to start trimming its stimulus at its next meeting in October if economic data points to a pick up. "Overall there was damage to the communication credibility coming from the Fed last week and on the back of that, markets are likely to look at the accommodation of the data combined with the Fed commentary," said Sutton. Prices for Canadian government bonds were mixed across the maturity curve, with the two-year bond up 1 Canadian cent to yield 1.223 percent, and the benchmark 10-year bond off 3 Canadian cents to yield 2.696 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.

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