CANADA FX DEBT-House starts help C$ overcome weak China data

Mon Jun 10, 2013 4:43pm EDT
 
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* C$ at C$1.0190 vs US$, or 98.14 U.S. cents

* Canada house starts beat expectations

* Weak China data hurts Aussie, kiwi, but not C$

By Alastair Sharp

TORONTO, June 10 (Reuters) - The Canadian dollar eked out a slight gain versus its U.S. counterpart on Monday after robust domestic housing data helped it brush of the signs of a slowdown in China that were pressuring its commodity-linked cousin, the Australian dollar,

The Canadian currency recorded its fifth straight gain on the Aussie, and hit its strongest level against it since September 2010.

"The Australian dollar and the kiwi dollar react a little bit more immediately to the Chinese data than does Canada, because we've got the U.S. as our trading partner," said Matt Perrier, managing director of foreign exchange sales at BMO Capital Markets.

A slew of figures over the weekend showed that China's economy is losing momentum, with exports and domestic activity struggling in May.   Continued...