CANADA FX DEBT-C$ at two-month low after strong U.S. jobs data

Fri Nov 8, 2013 4:53pm EST
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By Alastair Sharp

TORONTO Nov 8 (Reuters) - The Canadian dollar touched a two-month low against its U.S. counterpart on Friday after data showed robust U.S. jobs growth in October despite a government shutdown.

The U.S. report fanned expectations the Federal Reserve could move sooner to scale back its monetary stimulus.

Canadian employment figures, meanwhile, came in close to expectations.

Canada's economy added 13,200 jobs in October, while U.S. employers added 204,000 jobs to their payrolls.

"The good (U.S.) jobs numbers were a surprise to the topside and piggy-backs on the better-than-expected GDP data that we saw yesterday," said Scott Smith, senior market analyst at Cambridge Mercantile Group in Calgary.

The jobs data "really fuels expectations that the government shutdown didn't really impact the U.S. economy and hence ... possibly having a December taper on the table," he said.

The U.S. economy grew at its fastest pace in a year in the third quarter, data showed on Thursday.   Continued...