By Commodity News Service Canada
WINNIPEG, August 7 – The Canadian dollar ended weaker against the US dollar on Friday, reacting to a strong US jobs report.
The US economy added 215,000 new jobs in July, and wages rebounded. The positive data reinforced ideas that the US Federal Reserve will raise interest rates later this year.
The Canadian dollar closed at US$0.7614 or US$1=C$1.3133 on Friday, which compares with Thursday’s North American settlement of US$0.7629 or US$1=C$1.3108.
The Canadian currency’s downward slide was also linked to worries about global economic problems and a softer tone in crude oil values, analysts said.
However, positive Canadian job creation data limited the declines. Statistics Canada said 6,600 new jobs were created last month, beating expectations of 5,000 new jobs.
Canadian bonds were mixed on Friday, reacting to the positive job creation data from both Canada and the US, brokers said.
The two-year bond yielded 0.444% on Friday, from 0.436% on Thursday. The ten-year bond yield was at 1.423%, from 1.451%. Bond yields fall as their prices rise.
