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Canadian Forex/Bond Review: C$ Gains With Weak US Jobs Data

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By Commodity News Service Canada

Winnipeg, October 2 – The Canadian dollar strengthened in relation to its US counterpart on Friday after a US jobs report came in below expectations.

At 4:00 CDT Friday, the loonie was at US$0.7602 or US$1 = C$1.3154.

A US jobs report found the country added 142,000 positions in September, which was below the 200,000 that were expected.

The report spurred ideas that a rate cut by the US Federal Reserve is less likely now.

On the commodity markets the November crude contract in New York rose US$0.88 to US$45.62 a barrel. The December gold contract jumped US$24.80 to US$1,138.50 an ounce.

Canadian bonds rose Friday.

Canada’s two-year bond yield was at 0.502% Friday, from 0.528% late Thursday, according to electronic trading platform CanDeal. The 10-year bond yield was at 1.391%, from 1.430%. Bond yields move inversely to prices.