* C$ at C$0.9888 vs US$, or $1.0113 * Weighed down by euro zone factory data, U.S. ADP * Bond prices rise across curve By Jennifer Kwan TORONTO, May 2 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Wednesday as a downturn in euro zone manufacturing activity and disappointing U.S. private sector jobs data mad e investors more pessimistic about the global economic outlook. The currency followed the trend overseas that saw the euro and world shares fall after data showed euro zone factories sank further into decline last month. Also weighing on investors' willingness to buy riskier assets, including commodity-linked currencies like the Canadian dollar, wa s data that showed U.S. private employers added far fewer jobs than expected in April, a reading that could also keep stocks under pressure in the North American session. "It did weaken off slightly this morning on the weaker-than-expected ADP employment report. But it still remains confined to a C$0.9800 to C$0.9900 range, likely for the next day and a half," said Blake Jespersen, a managing director of foreign exchange sales at BMO Capital markets. At around 8:50 a.m. (1250 GMT), the Canadian currency was at C$0.9888 against the greenback, or $1.0113, down slightly from its Tuesday's finish at C$0.9858 a g ainst the greenback, or $1.0144. The latest reports contrasted with upbeat U.S. manufacturing data on Tuesday that helped ease investor concerns about the economic outlook of Canada's largest trading partner. Jespersen said he expected trading to remain light for the remainder of the day ahead of key U.S. jobs data later in the week. "Investors are just cautious about positioning themselves ahead of a big number that could lead to a big move," he said. Non-farm payrolls data out Friday is expected to show hiring b y U.S. employers rebounded in April, which could ease fears that the economy has stumbled into a soft patch. Businesses outside the farm sector are expected to have added 170,000 jobs last month, according to a Reuters survey, after rising a meager 120,000 in March. The unemployment rate is seen holding at a three-year low of 8.2 percent. Canadian bond prices climbed across the curve with Canada's two-year bond up 7 Canadian cents to yield 1.296 percent, while the benchmark 10-year bond rose 27 Canadian cents to yield 2.017 percent.