By Commodity News Service Canada
Winnipeg, July 5 – The Canadian dollar opened significantly lower
against its US counterpart Friday, undermined by a StatsCan job report
that said the Canadian economy lost jobs in June and positive
employment news in the US, market watchers said.
According to StatsCan, Canada lost 400 jobs in June after adding
95,000 in May. The jobless rate remained unchanged at 7.1 percent.
Putting additional weight on the Canadian Dollar was news that the US
economy created 195,000 jobs in June, exceeding the 165,000 that was
forecast.
Losses in commodities, including gold and copper, added to the
loonie’s bearish tone.
At 8:45 CDT Friday, the Canadian dollar was at US$0.9457 or
US$=C$1.0574 which compares with Thursday’s North American close of
US$0.9505, or US$=C$1.0521.
The TSX was down 28.40 points Friday morning at 8:45 CDT, to sit
at 12,138.26.
