By Commodity News Service Canada
Winnipeg, MB, November 7 – The Canadian dollar jumped against its US counterpart at midday Friday, carried by Canadian job data that showed better-than-expected job creation numbers.
Analysts initially projected losses of 5,000 jobs but numbers showed the economy actually created 43,100 jobs in October. The country’s jobless rate was also pegged at 6.8 percent in September, which is the lowest mark since the fall of 2008.
However, one analyst cautioned the market could be vulnerable to slumping commodity prices.
The December copper contract was up two cents at US$3.04 a pound. The December crude oil contract rose US$1.21 to hit US$79.12 a barrel. December gold rose US$22.20 to $1,164.80 an ounce.
At 11:50 CST Friday, the Canadian dollar was trading at US$0.8807 or US$1.1354, which compares with Thursday’s North American close of US$0.8752, or US$=$1.1426.
At 11:50 CST Friday, the Toronto Stock Exchange was up 140.78 points to sit at 14,704.16.
