CANADA FX DEBT-C$ little changed; soft U.S. GDP data weighs

Tue Nov 22, 2011 9:40am EST
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* C$ at C$1.0380 vs US$, or 96.34 U.S. cents

* Canadian retail sales positive

* Bond prices flat to higher across curve

By Jennifer Kwan

TORONTO, Nov 22 (Reuters) - Canada's dollar was little changed against U.S. currency on Tuesday as higher commodity prices and firm domestic data were offset by news the U.S. economy grew at a slightly lower pace than previously estimated.

U.S. gross domestic product grew at a 2.0 percent annual rate in the third quarter, down from the previously estimated 2.5 percent. [ID:nCAT005556]

Shortly after the data, the currency CAD=D4 tapped a low of C$1.0413 against the greenback, or 96.03 U.S. cents.

That report overshadowed Canadian data that showed consumers spent more than expected on retail purchases in September in a sign of robust economic growth in the third quarter. [ID:nN1E7AL07F]

"Core retail sales for Canada doesn't really matter in the back drop of what's going on," said John Curran, senior vice president at CanadianForex, a commercial foreign exchange dealing firm. "It's not a nice story out there."   Continued...