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CANADA FX DEBT-C$ eyes budget, pares losses hit after Brussels attacks

Published 2016-03-22, 09:29 a/m
© Reuters.  CANADA FX DEBT-C$ eyes budget, pares losses hit after Brussels attacks
USD/CAD
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CA2YT=RR
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CA10YT=RR
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* Canadian dollar at C$1.3098 or 76.35 U.S. cents
* Bond prices higher across the maturity curve

TORONTO, March 22 (Reuters) - The Canadian dollar pared
losses against its U.S. counterpart on Tuesday from a session
low hit after deadly blasts in Brussels, with the market bracing
for a federal budget announcement expected to include
significant fiscal stimulus.
The explosions in the Belgian capital pushed investors
towards the safety of gold and government bonds, while oil
prices seesawed.
At 9:24 a.m. EDT (1354 GMT), the Canadian dollar CAD=D4
was trading at C$1.3098 to the greenback, or 76.35 U.S. cents,
barely weaker than the Bank of Canada's official Monday close of
C$1.3085, or 76.42 U.S. cents.
Traders and strategists are awaiting the new Liberal
government's first federal budget, which is due at 4 p.m. EDT.
The government is expected to run a C$29 billion deficit in
fiscal 2016-17, a Reuters poll last week showed, as it borrows
more to increase infrastructure spending in the hopes of
boosting growth.
The currency's strongest level of the session was C$1.3055,
while its weakest level was C$1.3138.
Canadian government bond prices were higher across the
maturity curve, with the two-year CA2YT=RR price up 1 Canadian
cent to yield 0.553 percent and the benchmark 10-year
CA10YT=RR rising 6 Canadian cents to yield 1.296 percent.
The Canada-U.S. two-year bond spread was -30.3 basis points,
while the 10-year spread was -61.3 basis points.

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