By Commodity News Service Canada
WINNIPEG, Dec. 5 – The Canadian dollar was weaker Friday morning, as the currency reacted to softening domestic employment data.
At 9:09 CST Friday morning the Canadian dollar was at US$0.8725 or C$1.1461 which compares with Thursday’s North American close of US$0.8791, or C$1.1375.
The Canadian economy lost a net 10,700 jobs during November, and the country’s unemployment rate rose to 6.6%, according to a report from Statistics Canada.
Meanwhile, the US added a net 321,000 jobs to the non-farm payrolls during the month, according to a Labor Department report. The US jobs data beat expectations, and was seen as a sign of improving economic conditions in the country.
Continued losses in crude oil weighed on the energy-linked Canadian dollar as well.
The TSX was weaker in early activity, down 18.80 points at 9:09 CST to sit at 14,451.15.
