* C$ down at 94.34 U.S. cents
* Canada adds 24,700 jobs, unemployment rate steady
* May U.S. payrolls report far weaker than expected
* Hungary govt sees deficit overshoot
* Bond prices edge higher across curve (Adds details)
By Ka Yan Ng
TORONTO, June 4 (Reuters) - Canada's dollar hit its lowest point in more than a week against the U.S. currency on Friday afternoon as intensifying concerns about the outlook for European and global growth outweighed firm domestic jobs data.
North American equity markets were also sharply lower, contributing to sinking risk sentiment, following softer than expected U.S. job numbers and news that Hungary's finances were in much worse shape than previously expected. [ID:nLDE6521H1] [ID:nN03243431] [.TO] [.N]
"These fears in Hungary of further defaults got the markets scared again," said Aaron Fennell, senior markets strategist at Lind-Waldock.
"It's basically been a mass exodus into the U.S. dollar from any asset that's perceived to be risky. That seems to include the Canadian dollar."
At 3:28 p.m. (1928 GMT), the currency tumbled to C$1.0600 to the U.S. dollar, or 94.34 U.S. cents, its weakest level since May 27. That compared with C$1.0412 to the U.S. dollar, or 96.04 U.S. cents, at Thursday's close.
Market players looked past May Canadian job figures, which were almost double the number expected, prompting analysts to predict the Bank of Canada would come under more pressure to raise interest rates again next month despite rocky global markets. [ID:nN04104059]
Canadian bond prices were firmly higher across the curve, following U.S. treasuries, after U.S. nonfarm payrolls rose less than forecast.
U.S. employers created 431,000 jobs in May, the U.S. Labor Department said, well below the 513,000 increase predicted by analysts polled by Reuters. The U.S. jobless rate fell more than expected to 9.7 percent from 9.9 percent in April. [ID:nOAT004640] ECONUS
The two-year Canadian government bond CA2YT=RR surged 29 Canadian cents to yield 1.613 percent, while the 10-year bond CA10YT=RR gained 93 Canadian cents to yield 3.281 percent. (Reporting by Ka Yan Ng; editing by Rob Wilson)