CANADA FX DEBT-C$ at two-month low after strong U.S. jobs data


TORONTO, Nov 8 (Reuters) - The Canadian dollar hit atwo-month low against its U.S. counterpart on Friday after datashowed U.S. job growth unexpectedly accelerated in October,dodging any significant impact from a government shutdown, andas Canadian employment figures came in close to expectations.

"Canada was as expected, and the U.S. number was muchstronger than expected, so the market is going to take its cueoff of the U.S. report today," said Doug Porter, chief economistat BMO Capital Markets.

Canada's economy added 13,200 jobs in October while U.S.employers added 204,000 new jobs to their payrolls, fanningspeculation the U.S. Federal Reserve could begin to withdraw itsmassive monetary stimulus sooner than expected.

"The U.S. number at the margin kept the taper discussionalive," Royal Bank of Canada chief economist Craig Wright.

The U.S. payroll data had a broad impact on financialmarkets, boosting the greenback against a range of currenciesand pushing stocks and bonds lower.

The Canadian dollar weakened to C$1.0504 to theU.S. dollar, or 95.20 U.S. cents, after the data was released,its weakest level since Sept. 6.

It had closed the North American session on Thursdaychanging hands at C$1.0461, or 95.59 U.S. cents.

The loonie, as Canada's currency is colloquially known, ison track for a weekly decline of around 0.6 percent.


View Comments (0)