CANADA FX DEBT-C$ a tad weaker after North American jobs reports

Fri Jun 6, 2014 9:18am EDT

* Canadian dollar at C$1.0937, or 91.43 U.S. cents
    * Bond prices higher across the maturity curve

    By Leah Schnurr
    TORONTO, June 6 (Reuters) - The Canadian dollar was slightly
weaker against the greenback on Friday as investors weighed an
underwhelming domestic jobs report against data that showed a
solid pace of hiring south of the border.
    The Canadian economy created 25,800 jobs last month, largely
in line with expectations, but the positions were part-time.
 
    Economists said the details were more disappointing than the
overall figure. In contrast, U.S. employment returned to its
pre-recession level with 217,000 jobs added in May.
 
    The loonie saw some choppy trading immediately following the
reports, swinging in both directions before ultimately pulling
slightly lower. 
    "It's slightly negative just because the U.S. report was a
bit better than expected, whereas the details of the Canadian
release are a bit disappointing," said Doug Porter, chief
economist at BMO Capital Markets in Toronto. 
    "So I would say on balance it's a small strike against the
Canadian dollar, but I don't think it's going to change the
channel on the currency."
    The Canadian dollar was at C$1.0937 to the
greenback, or 91.43 U.S. cents, modestly weaker than Thursday's
close of C$1.0929, or 91.50 U.S. cents.
    "We see the Canadian dollar weaken and the (U.S.) dollar pop
higher once we realize some of the details in the U.S. may be a
little better," said David Tulk, chief Canada macro strategist
at TD Securities.
    The loonie has been trading in a slim range in recent weeks
and analysts say it will likely be comfortable trading around
either side of C$1.10 for some time.
    Canadian government bond prices were higher across the
maturity curve, with the two-year up 1.8 Canadian
cents to yield 1.050 percent and the benchmark 10-year
 up 26 Canadian cents to yield 2.303 percent.

 (Additional reporting by Allison Martell and Solaria Ho;
Editing by Bernadette Baum)
FILED UNDER:
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 (1)
MarkDonners wrote:
Harper is globally recognized as a dangerously corrupt political leader and is universally condemned by the global community. Harper uses extortion, threats and bribes to peddle his dirtiest oil on earth tar sands.. which has devastated once pristine Alberta ecosystems and wilderness and their native inhabitants.. along with many other of his cronies’ projects which harm environments worldwide. He has sabotaged climate talks, he blocks laws for animal cruelty and endangered species protection, he promotes horrific wildlife massacre bloodbaths, such as the harp seal pup bloodbaths (ignoring the entire world which has banned and boycotted Canada for that atrocity) and many other less publicized ones like elk massacres and endangered polar bear trophy hunts. he indulges in massive land and air pollution across Canada and clearcutting of old growth. Along with his crushing of laws upholding human rights, and his arms peddlng and warmongering, Harper has shown he’s simply a threat to the public and must be removed from public office

Jun 07, 2014 12:03am EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.