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Loonie weakens after US jobless numbers come in above expectations
TORONTO – The Canadian dollar was weaker early Friday after the U.S. jobless rate came in better than expected.
The loonie was down 0.28 of a cent at 98.90 cents US before stock markets opened.
The U.S. Labour Department said employers added 165,000 jobs in April, while both February and March numbers were also better than first thought.
The gains trimmed the U.S. unemployment rate to a four-year low of 7.5 per cent.
Meanwhile, the June crude contract on the New York Mercantile Exchange rose $1.18 to US$95.17 a barrel.
July copper gained 1.6 cents to US$3.26 a pound while June gold bullion was off $3 to US$1,464.60 an ounce.
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