CANADA FX DEBT-C$ weakest since May 2010 as data disappoints

Tue Jan 7, 2014 4:55pm EST
 
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* Canadian dollar at C$1.0772, or 92.83 U.S. cents

* Trade deficit widens in November

* October trade figures revised sharply weaker

* Ivey purchasing data sinks

* Bond yields lower across curve

By Alastair Sharp

TORONTO, Jan 7 (Reuters) - The Canadian dollar hit its weakest level against its U.S. counterpart since May 2010 on Tuesday after Canada posted a surprisingly steep widening of its trade deficit, eroding market hopes the struggling export sector might be recovering.

The November deficit and a sharp downward revision to October's trade numbers set back a nascent growth spurt for the Canadian economy, while a sharp contraction in purchasing activity in an Ivey survey for December added to the pessimistic tone.   Continued...