CANADA FX DEBT-C$ rebounds after trade data, bonds weak

Fri Mar 13, 2009 10:12am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* C$ rebounds from session low as appetite for risk grows

* Bonds flat to lower as stocks post more gains

* Canada sheds 82,600 jobs in Feb, jobless rate rises

* Canada trade deficit at C$993 mln is biggest on record (Updates to midmorning)

By Ka Yan Ng

TORONTO, March 13 (Reuters) - The Canadian dollar shot higher against the U.S. currency on Friday morning with growth in risk appetite, fueled by optimism over stock market rises, outgunning further evidence of a deteriorating economy.

At 9:45 a.m. (1445 GMT), the currency was at C$1.2696 to the U.S. dollar, or 78.77 U.S. cents, up from C$1.2791 to the U.S. dollar, or 78.18 U.S. cents, at Thursday's close.

That was a rebound from the session low of C$1.2844 to the U.S. dollar, or 77.86 U.S. cents, which was hit after Canadian employment data for February came in worse than expected.

The currency rose as high as C$1.2678 to the U.S. dollar, or 78.88 U.S. cents, on hopes that North American stock markets would build on this week's gains. World stocks seemed on track on Friday morning for one of their largest weekly gains in 20 years. [ID:nLD664043]   Continued...