By Commodity News Service Canada
Winnipeg, July 11 – The Canadian dollar was lower against its US counterpart at midday Friday, on disappointing jobs figures that found the country lost 9,400 jobs in June.
43,000 part-time jobs were lost. On the flip side however, Statistics Canada says full-time employment rose by 33,500 positions.
Economists with TD Economics are predicting a rapid slide for the loonie to 85 cents US by the middle of the year, unless the current environment changes.
The August gold contract fell $2.00 cents to US$1,337.20 an ounce. September copper fell one cent to US$3.24 a pound. The August crude oil contract fell $1.47 cents to US$101.46 a barrel.
At 11:50 CDT Friday, the Canadian dollar was trading at US$0.9327 or US$1.0721, which compares with Thursday’s North American close of US$0.9392, or US$=$1.0647.
At 11:50 CDT Friday, the Toronto Stock Exchange was down 8.34 points to sit at 15,106.14.
