Market News
Canadian dollar pares weekly gain as jobs data lifts rate cut bets - REUTERS
By Fergal Smith
Summary
- Canadian dollar falls 0.7% against the greenback
- Economy sheds 33,000 in March
- Oil extends selloff; tumbles 7.5%
- 10-year yield hits a near two-year low
TORONTO, April 4 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday, giving back some of its weekly gain, as oil prices tumbled and domestic data showed the global trade war beginning to hurt the labour market.
The loonie was trading 0.7% lower at 1.4195 per U.S. dollar, or 70.45 U.S. cents, after trading in a range of 1.4054 to 1.4242.
It touched on Thursday its strongest intraday level since December 6 at 1.4025 as Canada avoided fresh tariffs on its goods. For the week, the loonie was up 0.9%.
