Saturday, November 1st3.9°C
23710
22497

Loonie lifts nearly half a cent as Canadian jobs data impresses traders

TORONTO - The Canadian dollar gained nearly half a cent on Friday as the latest domestic jobs figures delivered a few positive surprises on the economy.

The loonie ended 0.48 of a cent higher at 91.07 cent cents US, after Statistics Canada said 43,000 net new jobs were added in March.

Most of the new jobs were part-time positions, and the vast majority of the new jobs went to young Canadians, the agency said.

Another soft spot in the report was that almost all the new jobs were in the public sector, while new private sector hiring was limited to 3,900.

The figure pushed the unemployment rate one tenth of a point lower to 6.9 per cent.

"The strong bounce in March employment is encouraging though it follows a 7,000 drop in February and leaves the average increase over the previous four months at a still modest 5,000," wrote RBC Economics assistant chief economist Paul Ferley in a note.

"Thus today's report does not alter our view that monetary policy is likely to remain highly accommodative to try and sustain more robust employment growth going forward."

Meanwhile in the United States, employers added 192,000 jobs in March, but the unemployment rate was unchanged at 6.7 per cent. The March jobs numbers were slightly below February's total of 197,000.

One of the brightest spots in the U.S. non-farms payroll report was a revision by the Labor Department of its January and February figures — adding 37,000 more jobs to the period than was originally estimated.

However traders reacted to the uncertain outlook it offered for the U.S. economy. Prices for gold, widely considered a safe-haven commodity, increased by US$18.90 to US$1,303.50 an ounce for the June contract, while May copper was relatively unchanged at US$3.02 a pound.

Oil continued to trade above US$100 a barrel with May crude settling 85 cents higher to US$101.14 a barrel.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14613.32+154.63
S&P CDNX769.59-2.06
DJIA17390.52195.10
Nasdaq4630.742+64.604
S&P 5002018.05+23.40
CDN Dollar0.88750.00
Gold1166.30-32.2999
Oil80.55-0.35
Lumber325.70+2.10
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.125+0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.18+0.03
Cantex0.045-0.015
Anavex Life Sciences0.185+0.0139
Metalex Ventures0.03-0.005
Russel Metals32.85+0.63
Copper Mountain Mining2.09+0.12
Colorado Resources0.125-0.015
ReliaBrand Inc0.015+0.003
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.39+0.015

 



22551

FEATURED Property
21077581603 Willow Crescent
3 bedrooms 3 baths
$479,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_



23884

23884


Member of BC Press Council


23911