By Commodity News Service Canada
Winnipeg, August 1 – The Canadian dollar was lower on Friday amid U.S. employment data that was slightly off expectations, analysts say.
At 9:00 CDT Friday morning, the loonie was down 0.09 of a cent to US$0.9162 or US$1 = C$1.089, as the U.S. Labour Department reported that the American economy added 209,000 jobs in July while the unemployment rate was up 0.1 of a point to 6.2 per cent.
Many economists had expected the report to show that around 225,000 jobs were created during the month, with the unemployment rate holding steady.
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U.S. job growth figures for May and June were revised upward, traders say. Canadian employment data is scheduled to be released on August 8.
Traders also looked ahead to the release of the latest reading on health of the American manufacturing sector, which economists expect to hit a six-month high of 56.
There was also positive news from China’s manufacturing sector, as the Chinese government’s official purchasing managers index came in above expectations at 51.7 in July, which was the highest readying in 27 months.
The TSX was up 20.07 points to 15,350.80 at 9:00 CDT Friday morning.
