Canadian Dollar and Business Outlook: Loonie rises a little more
StatCan reports unemployment slips to 5.7 per cent
By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar bumped up on Friday morning, due to small increases in crude oil while the United States dollar was relatively steady.
Also, Statistics Canada reported on Friday that the country’s unemployment rate declined to 5.7 per cent in December after 37,000 jobs were added.
As of 8:41 am CST, the loonie was at US$0.7442 or US$1=C$1.3438 compared to Thursday’s close of US$0.7426 or C$1.3467. On the U.S. Dollar Index, the greenback dipped 0.047 of a point at 103.990.
Benchmark crude oil prices were slightly higher on Friday morning as Middle East tensions continued to underpin values, while large U.S. stockpiles kept a cap on increases.
Brent crude oil tacked on 53 cents at US$82.16 per barrel, while West Texas Intermediate added 69 cents at US$76.91.
Shortly after Friday’s open the TSX/S&P Composite Index bumped up 45.95 points at 20,965.59.
Gold was down US$4.20 at US2,043.70 per ounce.
