By Commodity News Service Canada
Winnipeg, May 9 – The Canadian dollar fell against its US counterpart at midday Friday, as poor news on the Canadian labour front and slips in the financial sector, dragged the loonie lower.
Numbers released by Statistics Canada show the Canadian economy lost 28,900 jobs in April. This confirms the US economy is adding jobs at a quicker pace than Canada, said an analyst.
Shares of energy companies lost 1.2 percent while six of the 10 main sectors on the TSX suffered losses.
The materials sectors reported slight gains which was supportive.
At 11:55 CDT Friday, the Canadian dollar was trading at US$0.9176 or US$1.1089, which compares with Thursday’s North American close of US$0.9240, or US$=$1.0823.
At 11:55 CDT Friday, the Toronto Stock Exchange was down 22.50 points to sit at 14,524.45.
