CANADA FX DEBT-C$ dragged lower by US data, European debt

Tue Aug 30, 2011 1:13pm EDT
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* C$ at C$0.9800 vs US$, or $1.0204

* Euro zone, US economic fears set tone

* Canada's current account also disappointing

* Bond prices push higher across curve (Updates to afternoon)

By Claire Sibonney

TORONTO, Aug 30 (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Tuesday, taking its cue from disappointing North American economic data and nagging European debt fears.

In the euro zone, a poorly received Italian debt auction and bickering among countries about a bailout deal for Greece spurred bearish sentiment. [FRX/]

In North America, an unexpectedly large Canadian current account deficit undermined the risk-related currency, as did data that showed U.S. consumer confidence plunged in August to its lowest point in two years. [nN1E77T0QG] [nN1E77T0DO]

Data also showed U.S. single-family home prices dipped in June from May as the market continued to crawl along at depressed levels. [nN9E7H701O]   Continued...