WINNIPEG – The Canadian dollar surged on Friday morning after the release of welcome jobs data from Statistics Canada (StatCan).
The loonie was at US$0.7433 or US$1=C$1.3454, up from US$0.7371 or US$1=C$1.3566 on Thursday. StatCan reported on Friday that 41,000 jobs were added to the country’s economy in April, all of which were part-time. The unemployment rate held steady at five per cent.
The United States Dollar Index added 0.25 of a point at 101.65.
Crude oil rebounded on Friday, but is still on track for a weekly loss. Brent crude oil jumped US$2.50 to US$75.00 per barrel. West Texas Intermediate (WTI) rose US$2.63 at US$71.19/barrel.
The TSX/S&P Composite Index gained 163.18 points to 20,401.37.
Gold fell US$42.90 per ounce to US$2,012.80.
