By MarketsFarm
WINNIPEG, July 8 (MarketsFarm) – The Canadian dollar was holding steady Friday morning, lacking any clear direction as investors squared positions ahead of the weekend.
At 8:40 a.m. CDT Friday morning the Canadian dollar was at US$0.7700 or US$1=C$1.2987, which compares with Thursday’s close of US$0.7701 or US$1=C$1.2986.
While employment in Canada was down by 43,000 jobs in June, the unemployment rate was also down by 0.2 per cent to a record low of 4.9 per cent, as fewer people were searching for work, according to a report from Statistics Canada.
In the United States the unemployment rate held steady at 3.6 per cent, with nonfarm payrolls up by 372,000 jobs in June, according to a report from the Labor Department.
Crude oil was firmer in early activity, with West Texas Intermediate up by 2.2 per cent at US$105.01 per barrel.
The TSX was weaker, down 69.51 points at 8:40 CDT, trading at 18,993.66 points.
