By MarketsFarm
WINNIPEG, Oct. 11 (MarketsFarm) The Canadian dollar was stronger Friday morning, as solid employment data and gains in crude oil provided support.
At 9:05 CDT Friday morning the Canadian dollar was at US$0.7579 or C$1.3194 which compares with Thursday’s North American close of US$0.7522 or C$1.3294.
The Canadian economy added 53,700 net jobs in September, taking the unemployment rate down to 5.5 per cent, according to a report from Statistics Canada. Expectations had been for much smaller jobs growth and for the unemployment rate to hold steady at 5.7 per cent.
The solid jobs growth helped lower expectations that the Bank of Canada would cut interest rates at the end of the month.
Trade negotiations underway between the U.S. and China this week were being followed closely.
The TSX was up 68.24 points at 9:05 CDT to sit at 16,490.92.
