By Commodity News Service Canada
Winnipeg, September 8 – The Canadian dollar was lower against its US counterpart at midday Monday, as the American greenback appreciated in the wake of Friday’s US jobs report.
US businesses added 142,000 jobs in August, the smallest gain in eight months. However, it looked favourable compared to Canadian data which showed Canada lost 11,000 jobs during that same period.
The US Federal Reserve is widely expected to raise the interest rate by the middle of next year.
Traders are also closely monitoring the referendum for Scottish Independence which shows the “Yes” side gathering steam ahead of the vote.
The December copper contract rose three cents to US$3.20 a pound. The October crude oil contract fell US$1.04 to US$92.95 a barrel. December gold fell US$12.80 to $1,254.50 an ounce.
At 11:50 CDT Monday, the Canadian dollar was trading at US$0.9126 or US$1.0958, which compares with Thursday’s North American close of US$0.9190, or US$=$1.0881.
At 11:50 CDT Friday, the Toronto Stock Exchange was down 55.29 points to sit at 15,514.63.
