Canadian Dollar And Business Outlook

By Commodity News Service Canada

Winnipeg, May 9 – The Canadian dollar fell against its US counterpart Friday morning after weaker-than-expected data from the Canadian labour market underwhelmed investors.

Canada lost 28,600 jobs in April while the jobless rate stayed consistent at 6.9%, according to Statistics Canada.

The TSX is due for some consolidation after three weeks of advances, said an analyst.

The June crude oil contract was up 45 cents to US$100.71 a barrel.

At 8:45 CDT Friday, the Canadian dollar was at US$0.9174 or US$=C$1.0900 which compares with Thursday’s North American close of US $0.9240, or US$=C$1.0823.

The TSX was down 110.37 points Friday morning at 8:45 CDT, to sit at 14,546.03.