July 4, 2011 / 1:27 PM / 9 years ago

CANADA FX DEBT-C$ little changed in light holiday trade

 * C$ flat, stands at C$0.9598 vs US$, or $1.0419
 * Bond prices edge lower across curve
 By Claire Sibonney
 TORONTO, July 4 (Reuters) -  The Canadian dollar was little changed
against the U.S. dollar on Monday in holiday-quieted trading despite a
warning by Standard & Poor's that a debt rollover plan could put Greece
into selective default.
 On Saturday, euro zone finance ministers approved a 12 billion euro
installment of aid for Greece and said the details of a second aid package
would be finalized by mid-September.
 While expectations for a second Greek bailout kept riskier assets
including markets underpinned S&P's latest warning served as a reminder to
investors that the euro zone's woes are not over. [nL3E7I40H3]
 "It's extremely, extremely quiet as far as the amount of people that
are even inquiring as to where prices are," said C.J. Gavsie, managing
director of foreign exchange sales at BMO Capital Markets, noting the
Independence Day holiday in the United States on Monday following Canada
Day on Friday.
 "Those in the corporate community were definitely prepared for this and
have done what they needed to for the end of June and they don't expect to
enter into the markets until tomorrow when we expect normal activity to
 With respect to other currencies such as the euro, Gavsie said concern
over the Greek bailout is still dominating sentiment, but not dramatically
so. [FRX/]
 Canadian data that showed slack global demand for industrial metals
dampened Canadian producer prices in May also had little impact on the
domestic currency. [ID:nN1E76306D]
 At 9:03 a.m. (1303 GMT), the The Canadian dollar CAD=D4 stood at
C$0.9598 versus the U.S. dollar, or  $1.0419, down from Friday's close at
C$0.9590 to the U.S. dollar, or $1.0428.
 "Within 10 to 20 pips ... it's so inconsequential. That's natural
float, a few orders getting filled," added Gavsie.
 Earlier in the session however, it firmed to as much as C$0.9580, or
$1.0438, its best level since May 11. Gavsie said that level would serve as
near-term resistance for the Canadian currency.
 Canadian bond prices were also flat, lacking direction from their U.S.
counterparts. The two-year bond CA2YT=RR was down 4 Canadian cents to
yield 1.613 percent, while the 10-year bond CA10YT=RR was up 5 Canadian
cents to yield 3.120 percent
Canadian dollar and bonds report....[CAD/][CA/]
TSX market report..........[.TO]
Canadian interest rate poll.......... [CA/POLL]
Reuters monthly Canadian dollar poll.[CAD/POLL]
Reuters G7 quarterly economy poll.......ECONPOLL1 [ECILT/CA]
Reuters global stocks poll (Canada)...EQUITYPOLL1 [EPOLL/CA]
Weekly economic data poll..............[ECI/CA]
Bank of Canada T-bill auction..........[CA/BIL]
Bank of Canada securities auctions.....[CA/AUC]
Top News: Canada ......[TOP/CAN]
Today in Canada.......[CA/DIARY]
Global markets report.............[MKTS/GLOB]
Foreign exchange........[FRX/]
US Treasuries........... [US/]
Real-time Canadian economic RICS.......ECONCA
Canadian dollar quote............CAD=CAD=D3
Canadian bonds quote..<0#CABMK=>
Canadian money market quote.........<0#CAMMKT=>
Canada-Treasury spread rates........<CA/SPREAD>
Canadian speed guide....CANADA
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