CANADA FX DEBT-C$ little changed after hitting 6-month high

Thu May 7, 2009 9:48am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* C$ rallies as high as 85.99 U.S. cents

* Higher oil prices offer some support

* Bond prices down on U.S. data

By Frank Pingue

TORONTO, May 7 (Reuters) - The Canadian dollar was little changed versus the U.S. dollar on Thursday morning as the rise in the price of oil, a key Canadian export, was not enough to spark a move ahead of Friday's Canadian and U.S. jobs data.

The Canadian jobs data due on Friday is expected to show the economy shed 50,000 jobs in April while unemployment rose to 8.3 percent, according to a Reuters survey. But the data could be overshadowed as it will be followed shortly after by a U.S. jobs report.

"The market isn't quite sure where to go from here and of course this is the day when you'd expect that standing in front of the U.S. payrolls numbers," said Eric Lascelles, chief economics and rates strategist at TD Securities.

At 9:35 a.m. (1335 GMT), the Canadian unit was at C$1.1661 to the U.S. dollar, or 85.76 U.S. cents, down from C$1.1658 to the U.S. dollar, or 85.78 U.S. cents, at Thursday's close.

Earlier, it rose as high as C$1.1629 to the U.S. dollar, or 85.99 U.S. cents, which marked its highest level since Nov. 6.   Continued...