Glacier FarmMedia | MarketsFarm – The Canadian dollar eased off on Friday morning after the release of mixed economic news from Statistics Canada.
The loonie was at US$0.7184 or US$1=C$1.3920 as of 8:30 a.m. CDT, compared to Thursday’s close at US$0.7191 or US$1=C$1.3906.
StatCan reported today the country’s unemployment rate increased by two-tenths of a point to 6.9 per cent despite adding 7,400 jobs in April. Canada’s manufacturing sector lost 31,000 jobs as tariffs went into effect. However, there was a boost to temporary employment due to the federal election.
The United States Dollar Index declined 0.28 of a point at 100.36.
Ahead of trade talks between the U.S. and China, crude oil prices continued to rise. Brent crude oil added US$0.61 per barrel at US$63.45 per barrel and West Texas Intermediate was up US$0.65 at US$60.56/barrel.
The TSX/S&P Composite Index jumped 83.11 points at 25,337.17.
Gold gained US$34.30 per ounce at $3,340.30.
