Canadian Dollar and Business Outlook: Unemployment, loonie unchanged

By Glen Hallick

Glacier Farm Media MarketsFarm – The Canadian dollar was unchanged on Friday morning, following the latest jobs report from Statistics Canada

As of 8:38 am CST, the loonie remained at Thursday’s close of US$0.7488 or C$1.3354.

Statistics Canada reported on Friday that the country’s unemployment rate remained at 5.8 per cent in December as virtually no jobs were added.

Meanwhile, on the U.S. Dollar Index, the greenback was relatively steady, inching up 0.045 of a point at 102.180.

Benchmark crude oil prices were higher on Friday morning, as an array of events throughout the Middle East threaten supplies.

Brent crude oil added US$1.14 at US$78.73 per barrel, while West Texas Intermediate gained US$1.46 at US$73.65.

The TSX/S&P Composite Index opened Friday, with a dip of 19.75 points at 20,851.60.

Gold nudged up 40 cents at US2,050.40 per ounce.