Canadian Forex Midday: C$ Firms

 


By Commodity News Service Canada


 


Winnipeg, December 7 – The Canadian dollar was trading at a


firmer level versus its US counterpart at midday Friday,


supported by strong employment data from both the US and


Canada, traders said.


 


Statistics Canada reported 59,000 new jobs were added to the


Canadian economy in November, beating expectations of 10,000


new jobs. The unemployment also dropped 0.2 percentage points


to 7.2%.


 


In the US, 146,000 new jobs were created in November, the US


Department of Labour said, which beat expectations of 80,000


new jobs.


 


However declining commodity prices, including crude oil and


gold, helped to limit the Canadian dollar’s upside potential,


brokers said.


 


At 11:40 CST Friday, the Canadian dollar was trading at


US$1.0110 US$1=C$0.9891, which compares with Thursday’s North


American close of US$1.0090, or US$=C$0.9911.


 


The Toronto Stock Exchange was up 5.69 points, or 0.05%, at


11:40 CST Friday, to sit at 12,156.82.