BUZZ-Canadian ETF fighting back after market pans central bank action

Wed Jan 20, 2016 2:23pm EST
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** iShares MSCI Canada ETF retracing move down this session after hitting low last seen Apr 2009 following central bank inaction in face of oil rout

** Fund hit as low as $18.07 intraday, lowest since Apr 23, 2009; last 18.51

** Investors initially disappointed by decision by the Bank of Canada to hold interest rates steady even as it lowered its 2016 growth forecast, counting on a weak currency, fiscal stimulus and stronger U.S. demand to spur an economic rebound

** Canadian loonie, which fell to near 13-year lows this week, also firmed against the greenback immediately after the rate announcement, but was modestly weaker by midday

** Canadian stocks like Royal Bank of Canada, Toronto-Dominion Bank and Bank of Nova Scotia - the ETF's top holdings - already under pressure by continuing oil slump