CANADA FX DEBT-C$ slides on China, Europe data

Mon Mar 5, 2012 9:07am EST
 
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* C$ falls to C$0.9924 vs US$, or $1.0076

* China, euro zone data weigh

* Bond prices lower across the curve

By Jon Cook

TORONTO, March 5 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Monday as commodities fell after data showed China cut its growth target and Europe's private sector slowed last month, reigniting concerns about the strength of the global economy.

Riskier assets like stocks were hit after Asian powerhouse China lowered its growth target to 7.5 percent, while euro zone surveys of purchasing managers fell from initial estimates, driving the euro to a two-week low against the dollar.

Oil slipped to around $123 per barrel on Monday after the China data and a boost in Iraqi production.

"The Canadian dollar did weaken off but it's holding in fairly well," said Blake Jespersen, managing director of foreign exchange sales at BMO Harris.   Continued...