January 29, 2010 / 2:26 PM / 10 years ago

CANADA FX DEBT-C$ edges higher after Canada GDP data

 * Climbs to C$1.0658 to the US$
 * Canada GDP data shows economy picks up speed in November
 * Data shows U.S. economy grew faster than expected in Q4
 * Bond prices lower across curve
 (Adds details, quote)
 By Jennifer Kwan
 TORONTO, Jan 29 (Reuters) - The Canadian dollar climbed
against the U.S. dollar on Friday after data showed Canada's
economy grew for the third straight month in November, putting
it on track for robust fourth-quarter growth.
 Gross domestic product advanced 0.4 percent in the month,
beating the market estimate of a 0.2 percent gain.
 "For one of the few times in the past two years, the
Canadian GDP numbers actually surprised on the high side," said
Doug Porter, deputy chief economist at BMO Capital Markets.
 "What was encouraging here is that it doesn't look like it
was any one particular sector. It was relatively well spread
out across a few of the goods producing industries."
 At 9:07 a.m. (1407 GMT), the Canadian dollar was at
C$1.0658 to the U.S. dollar, or 93.83 U.S. cents, up from about
C$1.0676 or 93.67 cents before the data. The Canadian dollar
finished at C$1.0662 to the U.S. dollar, or 93.79 U.S. cents,
on Thursday.
 Data also showed the U.S. economy grew at a
faster-than-expected 5.7 percent pace in the fourth quarter,
the quickest pace in more than six years. [ID:nN28120005]
 Government bond prices were mostly lower across the curve,
following moves in U.S. Treasuries where prices extended drops
after the fourth quarter GDP reading. [US/]
 (Editing by Theodore d'Afflisio)

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