By Commodity News Service Canada
WINNIPEG, Nov. 3 (CNS Canada) The Canadian dollar was stronger Friday morning, as better-than-expected jobs data provided support.
At 9:05 CDT Friday morning the Canadian dollar was at US$0.7850 or C$1.2739 which compares with Thursday’s North American close of US$0.7799 or C$1.2822.
Canada added 35,300 jobs in October, according to a report from Statistics Canada, as gains in full-time employment more than offset losses in part-time work. However, the unemployment rate edged up to 6.3 per cent, as more people were looking for work.
The economy added more jobs than expected, and the data was seen as bolstering expectations for an interest rate hike by the spring.
Crude oil was stronger early Friday, contributing to the advances in the energy-linked Canadian dollar.
The TSX was weaker at 9:05 CDT, down 31.24 points at 15,983.75.
