By Commodity News Service Canada
WINNIPEG, May 6 (CNS Canada)- The Canadian dollar was slightly weaker Friday morning, as losses in crude oil and disappointing jobs data weighed on the currency.
At 8:54 CDT Friday morning the Canadian dollar was at US$0.7768 or C$1.2873 which compares with Thursday’s North American close of US$0.7771 or C$1.2868.
Wildfires in Alberta continue to disrupt oil production, which remained somewhat supportive for global crude oil prices. However, large US stocks and end of the week positioning weighed on the oil market today.
Canada’s economy lost 2,100 jobs in April, according to Statistics Canada, keeping the unemployment rate steady at 7.1%. On a provincial basis, Alberta lost 20,800 jobs due to the downturn in the oil sector.
The TSX was stronger, up 19.82 points at 8:54 CDT to sit at 13,651.82.
