CANADA FX DEBT-Loonie falls as Canadian data shows economic momentum easing - NewsBreak

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By Faria in Business
Updated 3 years ago

(Adds details on activity; updates prices) * Canadian dollar weakens 0.3% against the greenback * Trades in a range of 1.2616 to 1.2698 * Canadian wholesale trade falls 2.1% in July * Canadian bond yields rise across the curve By Fergal Smith TORONTO, Sept 16 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Thursday as the greenback notched broad-based gains and investors weighed domestic data showing some weakening in activity. The loonie was trading 0.3% lower at 1.2675 to the greenback, or 78.90 U.S. cents, after moving in a range of 1.2616 to 1.2698. Canadian wholesale trade fell by 2.1% in July from June, the biggest decline since April last year, and housing starts were down 3.9% in August compared with the previous month. "Momentum (in housing starts) has been moderating after unprecedented strength earlier in the year," Shelly Kaushik, an economist at BMO Capital Markets, said in a note. Foreign investors are growing more worried that Canada's federal el

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