Canadian Financial Close: C$ weakens on jobs data

By Commodity News Service Canada

WINNIPEG, July 5 (CNS Canada) – The Canadian dollar was weaker on Friday, as the currency reacted to the latest North American jobs data.
The Canadian dollar closed at US$0.7634 or US$1=C$1.3099, which compares with Thursday’s close of US$0.7658, or US$1=C$1.3059.
Statistics Canada reported net job losses of 2,200 in June. That came as a surprise to market participants, with average pre-report guesses predicting a 10,000 job increase on the month.
However, wages were up on the month, which was seen as a sign of economic strength and helped lower the chances of an interest rate cut next week.

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Meanwhile, jobs data in the United States surprised the other way, with more non-farm jobs added to payrolls than had been expected.
The TSX Composite Index was weaker on Friday, losing 48.86 points, or 0.28 per cent, to close at 16,541.99 points.

Canada’s agricultural sector performed as follows:

Buhler Industries—————-unchanged at $ 3.91
Linamar Corp.——————–dn $ 0.59 at $ 46.19
Maple Leaf Foods—————–up $ 0.14 at $ 28.92
Nutrien Ltd.———————dn $ 0.19 at $ 69.93
Ritchie Bros Auctioneers Inc.—-dn $ 0.26 at $ 44.13
Rocky Mountain Dealerships Inc.–up $ 0.04 at $ 7.72

(All figures are in Canadian dollars.)
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