CANADA FX DEBT-C$ weaker as stocks slip, U.S. GDP data eyed

* C4 at C$0.9968 to the US$, or $1.0032
    * Currency tracks equities, commodities lower
    * U.S. GDP data eyed for C$'s next move

    By Alastair Sharp
    TORONTO, Oct 26 (Reuters) - The Canadian dollar weakened on
Friday versus its U.S. counterpart, as commodity prices and
equity markets retreated ahead of a key reading of economic
growth in the United States, Canada's largest trading partner.
    At 8:15 a.m. (1200 GMT) the Canadian dollar was at
C$0.9968 to the greenback, or $1.0032, compared with C$0.9939,
or $1.0061, at Thursday's North American close.
    The currency weakened into that close after disappointing
financial results from technology giant Apple Inc and
data showing Spanish unemployment hit a record 25 percent in the
third quarter.  
    European stocks were on track for their worst week in a
month, and gold, oil and copper all eased. 
    Traders said a poor showing from the 8:30 a.m. U.S. gross
domestic product data could weaken the Canadian dollar even
further, perhaps pushing it below parity with the U.S. dollar
for the first time since August. 
    "Ultimately, there's a fair bit of congestion in terms of
technical levels to get through, but it could create some
momentum to see some of the long Canadas in the speculative
market covered in the event that we do see it through parity,"
said Jack Spitz, managing director of foreign exchange at
National Bank Financial. 
    The two-year bond was up 3 Canadian cents to
yield 1.132 percent, while the benchmark 10-year bond
 rose 34 Canadian cents to yield 1.862 percent.