By Commodity News Service Canada
WINNIPEG, June 9 (CNS Canada) – The Canadian dollar was stronger Friday morning, as better-than-expected domestic jobs data provided support.
At 9:29 CDT Tuesday morning the Canadian dollar was at US$0.7433 or C$1.3454 which compares with Thursday’s North American close of US$0.7406 or C$1.3503.
The Canadian economy added 54,500 jobs in May, according to the latest Statistics Canada report. The employment growth beat expectations. However, the unemployment rate also rose 0.1 points, to 6.6 per cent, as more people participated in the jobs market.
Crude oil was higher in early activity, which underpinned the energy-linked Canadian dollar.
Currency markets were also reacting to the results of the United Kingdom election, which resulted in a hung Parliament as the Conservatives won the most seats but lost their majority.
The TSX was stronger at 9:14 CDT, up 43.99 points at 15,467.08.
