CANADA FX DEBT-C$ rises after strong U.S. jobs report

Fri Aug 5, 2011 9:59am EDT
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* C$ at C$0.9746 to the U.S. dollar, or $1.0261

* Pulls back from 5-week low after U.S. jobs report

* U.S. jobs data eases recession fears

* Canadian data helps support market

* Bond prices fall as safe-haven bid fades

By Andrea Hopkins

TORONTO, Aug 5 (Reuters) - Canada's dollar strengthened against the U.S. currency on Friday morning, rebounding from a five-week low, after stronger-than-expected U.S. jobs data eased fears about a recession and calmed jittery investors.

The U.S. data came on the heels of a Canadian employment report that showed the unemployment rate in July at its lowest level since December 2008 and strong private-sector job gains. But overall hiring was lower than analysts had forecast.

U.S. job growth accelerated more than expected in July as private employers stepped up hiring, a development that eased fears that the economy was sliding into another recession. [ID:nOAT004847]   Continued...