By Glen Hallick
Glacier Farm Media MarketsFarm – The Canadian dollar was on the rise Friday morning, following a relatively positive jobs report from Statistics Canada.
As of 8:37 am CDT, the loonie was at US$0.7329 or US$1=C$1.3644 compared to Thursday’s close of US$0.7304 or C$1.3692. On the U.S. Dollar Index, the greenback nudged up 0.011 of a point at 105.115.
StatCan noted April saw the largest job gains in more than a year, with 90,000 added, but Canada’s unemployment rate remained at March’s 6.1 per cent.
Benchmark crude oil prices were slightly higher on Friday morning, due to optimism toward interest rate cuts by the U.S. Federal Reserve later this year. However concerns about an oversupply of oil kept a lid on increases.
Brent crude oil was up 36 cents at US$84.24 per barrel and West Texas Intermediate gained 42 cents at US$79.68.
Shortly after Friday’s open the TSX/S&P Composite Index added 62.78 points at 22,438.61.
Gold jumped US$36.80 at US$2,377.10 per ounce.
