WINNIPEG – The Canadian dollar made a slight gain on Friday morning after the release of positive economic news from Statistics Canada (StatCan).
The loonie was at US$0.7391 or US$1=C$1.3530, up from US$0.7372 or US$1=C$1.3564 at Thursday’s close. StatCan reported on Friday that the Canadian economy added 104,000 jobs in December while also cutting the unemployment rate to five per cent. Economists expected a gain of 5,000 positions and a rate of 5.2 per cent.
The U.S. Dollar Index was up 0.04 of a point at 105.08. The U.S. Labor Department reported 223,000 new jobs last December in that country, while the U.S. unemployment rate matched a 53-year low at 3.5 per cent.
Crude oil was higher on Friday despite demand concerns due to rising COVID-19 infections in China. Brent crude oil was up US$1.42 to US$80.11/barrel. West Texas Intermediate (WTI) increased US$1.29 at US$74.96/barrel. Meanwhile, Western Canadian Select (WCS) gained US$1.44 to US$48.53/barrel.
The TSX/S&P Composite Index rose 100.29 points to 19,607.13.
Gold added US$11.10 per ounce to US$1,851.70.
