By Commodity News Service Canada
Winnipeg, March 6 – The Canadian dollar was lower against its American counterpart Friday morning, after US job report data came out better than expected.
At 8:45 CST Friday morning, the loonie was down 0.0077 of a cent to US$0.7933 or US$1 = C$1.2605. The US economy created just under three hundred thousand jobs last month, which was less than what analysts had been expecting.
Wage growth was the lone concern in the report as it showed the pace of wage growth has been stagnant so far. This is expected to ease pressure on the US Federal Reserve to hike the interest rate.
Germany’s industrial production rose by 0.6 percent in January, which was higher than expected.
On the commodity markets the April crude contract in New York dipped US$0.21 to US$50.55 a barrel. May copper was unchanged at US$2.65 a pound while the April gold contract fell $12.93 to US$1,183.90 an ounce.
At 8:45 CST Friday morning, the TSX was down 35.65 points to 15,067.46.
