By Commodity News Service Canada
Winnipeg, Nov 6 – The Canadian dollar eased relative to the US dollar on Thursday, giving back all of the gains seen on Wednesday. Weakening oil prices helped to weigh on the loonie, analysts said.
At 11:49 CST Thursday, the Canadian dollar was at US$0.8742 or US$1=C$1.1439, which compares with Wednesday’s North American settlement of US$0.8780 or US$1=C$1.1389.
News that the European Central Bank is preparing to implement further stimulus measures, if it becomes necessary, added to the bearish tone.
There was no significant Canadian economic data reported on Thursday. Traders were looking ahead to Friday’s employment data from Canada and the US.
Pre-report estimates call for a loss of 8,000 jobs in Canada last month, and 228,000 new jobs created in the US in October.
The Toronto Stock Exchange was up 34.75 points, or 0.24%, at 11:49 CST Thursday, to sit at 14,583.01.
