By Phil Franz-Warkentin
Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger Friday morning, hitting its highest level in two months relative to its United States counterpart.
At 8:49 a.m. CST Friday morning the Canadian dollar was trading at US$0.7399 or US$1=C$1.3515, which compares with Thursday’s close of US$0.7363 or US$1=C$1.3582.
Canada’s unemployment rate rose 0.1 percentage points in November, hitting 5.8 per cent despite a small increase in jobs as the rising population outpaced employment growth, according to a report from Statistics Canada. The jobs data beat expectations, with the 24,900 new jobs added in November well above pre-report calls closer to 14,000.
West Texas Intermediate crude oil was up by 0.14 per cent at US$76.07 per barrel.
The TSX was stronger, gaining 22.98 points at 8:49 CST, trading at 20,259.27 points.
