By MarketsFarm
WINNIPEG, Feb. 3 (MarketsFarm) – The Canadian dollar was weaker Friday morning, as better-than-expected jobs data out of the United States led to broad strength in the U.S. dollar internationally.
At 8:52 a.m. CST Friday morning the Canadian dollar was at US$0.7465 or US$1=C$1.3396, which compares with Thursday’s close of US$0.7512 or US$1=C$1.3312.
Nonfarm payrolls in the U.S. saw an increase of 517,000 jobs in January, which was roughly double the jobs growth from the previous month. The solid employment data was seen as adding support to expectations for more interest rate increases from the U.S. Federal Reserve.
Crude oil was firmer in early activity, with West Texas Intermediate up by 1.01 per cent at US$76.65 per barrel.
The TSX was up by 35.55 points at 8:53 CST, trading at 20,775.99 points.
