By Commodity News Service Canada
WINNIPEG, January 3 The Canadian dollar was unchanged compared to its US counterpart at 8:45 CST Thursday. Strong US jobs data helped to underpin the currency, analysts said.
US payroll processor Automatic Data Processing Inc. (ADP) reported private-sector hiring increased more than expected in December. Unemployment claims in the US rose last week, but were still lower than at the same time last year.
At 8:45 CST Thursday, the Canadian dollar was at US$1.0150 or US$=C$0.9852, which compares with Wednesday’s North American close of US$1.0150 or US$=C$0.9852.
The Canadian dollar remained flat as weak commodity prices limited its upside potential. Gold, copper and crude oil were all lower Thursday morning.
There was no significant Canadian economic data to report on Thursday. Traders were looking ahead to Friday, when Statistics Canada will release employment data and industrial product and raw materials price indexes.
The TSX was down 8.78 points, or 0.07%, at 8:45 CST Thursday morning to sit at 12,531.99.
