By Commodity News Service Canada
WINNIPEG, July 10 – The Canadian dollar ended higher against the US dollar on Friday, after a day of choppy activity, analysts said.
The Canadian dollar closed at US$0.7887 or US$1=C$1.2679 on Friday, which compares with Thursday’s North American settlement of US$0.7870 or US$1=C$1.2707.
Sentiment that recent losses in the Canadian dollar helped to underpin the currency, as did better than expected domestic employment data.
Statistics Canada said the economy shed 6,400 jobs in June, which was better than expectations calling for a loss of 10,000 jobs.
However, weakness in crude oil was bearish, as were expectations that the Bank of Canada will still consider making another interest rate cut sometime in the future.
Canadian bonds were lower on Friday, reacting to the better than expected domestic jobs data, according to market watchers.
