CANADA FX DEBT-C$ falls on fears of lacklustre U.S. recovery

Fri Jul 8, 2011 5:18pm EDT
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* C$ closes at C$0.9607 to the U.S. dollar, or $1.0409

* Soft U.S. employment data drives currency lower

* Weaker commodity prices also weigh

* Bond prices higher across the curve

By Trish Nixon

TORONTO, , July 8 (Reuters) - Canada's dollar weakened against the greenback on Friday after a dismal report on the U.S. labor market raised concerns that a U.S. economic recovery is further away than anticipated.

Stock markets around the world fell and oil slumped after U.S. data showed employment growth had ground to a halt in June. [MKTS/GLOB]

"That big shock coming out of the U.S. payrolls, certainly had a bigger impact on the Canadian dollar than the Canadian jobs numbers did," said David Watt, senior currency strategist at RBC Capital Markets.

"The payrolls number probably had a more jarring impact on the Canadian dollar than any other currency pair."   Continued...