Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, October 2 – The Canadian dollar strengthened against
its US counterpart Friday as a much-anticipated US jobs report fell
short of analyst expectations.

At 8:55 a.m. CDT the Canadian dollar was at US$0.7558 or C$1.3231
which compares with Thursday’s North American close of US$0.7544,
or C$1.3255.

Analysts had anticipated US data would show an increase of
upwards of 200,000 jobs, but the number came in at 142,000, compared
with 136,000 in August.

A healthy jobs report would have given indications that the
country’s economy is strong enough for the Federal Reserve to
introduce an interest rate raise, which in turn would push the loonie
down.

The TSX was weaker in early activity, down 154.9 points at 8:55
a.m. CDT to sit at 13,086.98.