By Commodity News Service Canada
WINNIPEG, Feb. 6 The Canadian dollar was down slightly against the US dollar Friday morning, undermined by positive US employment data, analysts said.
The US Labor Department said 257,000 new jobs were created last month, above pre-report expectations of about 233,000 new jobs.
At 8:44 CST Friday, the Canadian dollar was at US$0.8024 or US$=C$1.2463, which compares with Thursday’s North American close of US$0.8049 or US$1=C$1.2424.
A report from Canada Mortgage and Housing Corp. was also bearish, as it said recent weakness in oil values will have a negative effect on housing markets in communities where oil production is a large part of the economy.
However, strength in crude oil values Friday morning and positive Canadian employment data were limiting the losses. Statistics Canada said 35,000 new jobs were created in January, above pre-report expectations of 4,500 new jobs.
The TSX was up 129.27 points, or 0.86%, at 8:44 CST Friday morning to sit at 15,124.92.
