CANADA FX DEBT-C$ steady after surprisingly soft factory data

Fri Dec 14, 2012 9:46am EST
 
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* C$ flat at C$0.9849 vs US$, or $1.0153

* Hit session low after weak data

* Bond prices little changed

By Claire Sibonney

TORONTO, Dec 14 (Reuters) - The Canadian dollar steadied against its U.S. counterpart on Friday as investors looked past surprisingly weak manufacturing data and clung to hopes that a U.S. budget deal would be resolved by the end of the year.

Canadian manufacturing unexpectedly plunged by 1.4 percent in October from September, the biggest drop in nine months, on weakness in major sectors such as motor vehicles and primary metals.

The currency briefly weakened to a session low after the numbers, before returning to trade little changed.

"We did have a pretty soft manufacturing report but it really did very little to weaken off the currency," said Mark Chandler, head of fixed income and currency strategy at RBC Capital Markets.   Continued...