CANADA FX DEBT-C$ hits one-month low after oil drop, U.S. data

Wed Jan 14, 2009 4:53pm EST
 
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* Canadian dollar touches lowest level in a month

* C$ falls on U.S. retail sales data, oil's drop

* Bonds rise as Toronto stocks close down 3 percent

By Jennifer Kwan

TORONTO, Jan 14 (Reuters) - The Canadian dollar fell to its lowest level in a month against the U.S. currency on Wednesday, hurt by lower oil and grim U.S. retail sales figures that intensified fears about the global economy.

Domestic government bond prices followed U.S. Treasuries higher, boosted by the negative data and a stock market drops in both countries. Toronto's main stock index .GSPSTE slumped 3 percent on the poor U.S. economic reading.

The Canadian currency closed at C$1.2483 to the U.S. dollar, or 80.11 U.S. cents, down from C$1.2248 to the U.S. dollar, or 81.65 U.S. cents, on Tuesday.

The unit fell for four straight sessions and earlier in the day touched a low of C$1.2494 to the U.S. dollar, or 80.04 U.S. cents, its lowest level since December 12, according to Thomson Reuters data.

U.S. government data showed sales at U.S. retailers fell a more than expected 2.7 percent in December as the economic downturn spurred consumers to cut back on spending. [ID:nN14464017]   Continued...