WINNIPEG, Dec. 6 (MarketsFarm) The Canadian dollar was weaker Friday morning as disappointing jobs data weighed on values.
At 9:20 CST Friday’s morning the Canadian dollar was at US$0.7545 or C$1.3254 which compares with Thursday’s North American close of US$0.7591 or C$1.3174.
The Canadian economy lost a surprising 71,200 jobs in November, causing the unemployment rate to rise to 5.9 per cent, according to updated Statistics Canada data. Market expectations had been for small jobs growth on the month, and the downturn was seen as a sign that the Bank of Canada may need to reconsider its steady monetary policy.
Crude oil was stronger in early activity, providing some underlying support for the energy-linked currency.
The TSX was up by 149.34 points at 9:20 CST to sit at 17,004.26.