By Commodity News Service Canada
Winnipeg, November 8 – The Canadian dollar opened weaker against
its US counterpart on Friday, undermined by stronger-than-expected US
jobs data, industry watchers said.
According to the US Department of Labour, 204,000 jobs were
created during October, which surpassed economists’ expectations of a
120,000 job increase.
Losses seen in commodities, including gold and copper, added to
the loonie’s bearish tone.
However, slightly better-than-expected Canadian economic data
managed to limit losses, brokers said. Statistics Canada reported that
13,200 jobs were created in October, up from the 11,000 job increase
traders had forecast.
At 8:39 CST Friday, the Canadian dollar was at US$0.9529 or
US$=C$1.0494 which compares with Thursday’s North American close of
US$0.9559, or US$=C$1.0461.
The TSX was up 2.06 points Friday morning at 8:39 CST, to sit at
13,296.26.
