CANADA FX DEBT-C$ snaps 7-day losing streak, bonds slump

Fri Dec 5, 2008 5:14pm EST
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* Canadian dollar rebounds from disappointing jobs data

* 70,600 Canadian jobs lost in November, most in 26 years

* Bonds slump as stocks make late-day jump

* Bank of Canada in focus, seen slashing rates on Tuesday

By Ka Yan Ng

TORONTO, Dec 5 (Reuters) - The Canadian dollar clawed back from a six-week low versus the U.S. dollar on Friday, ending a seven-day losing streak, encouraged by a late stock market rally and after the currency failed to drop through a key technical level.

Bond prices were lower across the board on the late-session stock market bounce, reversing early gains stemming from dour jobs figures.

The currency finished the session at C$1.2709 to the U.S. dollar, or 78.68 U.S. cents, up from C$1.2781 to the U.S. dollar, or 78.24 U.S. cents, at Thursday's close.

"We got some bounce in the equity markets into the close of the week. On the technical side, we couldn't quite take out the recent (U.S. dollar) high," said David Watt, senior currency strategist at RBC Capital Markets.   Continued...