Canadian Dollar and Business Outlook: Canada adds jobs in March

WINNIPEG – The Canadian dollar slightly increased on Friday morning after Statistics Canada released data showing that the country added more than 300,000 jobs in March and its unemployment rate was lowered to 7.5 per cent.

As of 8:39 a.m. CDT, the loonie was at US$0.7967 or US$1=C$1.2552, compared to US$0.7950 or US$1=C$1.2579 when markets closed on Thursday.

Benchmark oil prices took a step back on Friday. Brent crude oil dropped US$0.30 per barrel to US$62.90. West Texas Intermediate (WTI) decreased US$0.15 to US$59.15/barrel. Western Canadian Select (WCS) lost US$0.47 at US$48.81/barrel.

Despite good financial news in Canada, the TSX/S&P Composite Index fell on Friday morning, losing 57.22 points to 19,171.65.

Nearing the end of a roller-coaster week, gold plunged by US$18.64 to US$1,734.19 per ounce.

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