Canadian dollar declines as US weekly jobless data improves

TORONTO – The Canadian dollar pulled back Thursday after improved weekly jobless claims numbers from the United States.

The loonie was down 0.15 of a cent to 96.67 cents US shortly before stock markets opened.

The U.S. Labor Department said Thursday that the number of people seeking U.S. unemployment benefits dropped 15,000 last week to a seasonally adjusted 320,000, the fewest since October 2007 — a sign of dwindling layoffs and steady if modest job growth.

The less volatile four-week average fell 4,000 to 332,000, the fewest since November 2007 and the fifth straight decline.

In commodities, the price of oil neared a two-week high as the September crude contract moved ahead 36 cents to US$107.21 a barrel.

December gold bullion dropped $9.40 to close at US$1,324.00 an ounce. September copper decreased 3.7 cents to US$3.30 a pound.