Glacier FarmMedia – The Canadian dollar remained steady on Friday despite positive economic news from Statistics Canada.
The loonie was at US$0.7144 or US$1=C$1.3998 as of 8:32 a.m. CDT, compared to Thursday’s close at US$0.7143 or US$1=C$1.4000. StatCan reported the country added 60,400 jobs in September and the unemployment rate remained at 7.1 per cent. Analysts expected the economy to drop 2,500 jobs and the unemployment rate to move up to 7.2 per cent.
The United States Dollar Index was down 0.21 of a point at 99.33.
Crude oil prices dropped as the risk premium from the war in Gaza fades after Israel and Hamas agreed to a ceasefire. Brent crude oil fell US$1.81 per barrel at US$63.41/barrel. West Texas Intermediate lost US$1.79 at US$59.72/barrel.
The TSX/S&P Composite Index added 59.50 points at 30,329.48. Canadian markets will be closed on Monday for Thanksgiving.
Gold returned to the US$4,000 per ounce mark, gaining US$37.60 per ounce at US$4,010.20.
