Canadian Forex Midday: C$ weakens amid strong US jobs data

By Commodity News Service Canada

Winnipeg, November 8 – The Canadian dollar was weaker against its
US counterpart at midday Friday, undermined by stronger-than-expected
US economic data that could lead the US Federal Reserve to slowing its
monetary stimulus before the end of 2013, market watchers said.
The US Department of Labour reported that 204,000 jobs were
created in October, surpassing economists’ expectations of a 120,000
job increase.
However, losses were limited by better-than-expected Canadian
economic data, brokers said. Statistics Canada reported that 13,200
jobs were added in October, up from the 11,000 job increase expected.
Gains seen in commodities, including crude oil and copper, were
supportive.
At 11:34 CST Friday, the Canadian dollar was trading at US$0.9539
or US$1.0483, which compares with Thursday’s North American close of
US$0.9559, or US$=$1.0461.
At 11:34 CST Friday, the Toronto Stock Exchange was up 86.53
points to sit at 13,380.73.