Market News
Canadian dollar snaps weekly losing streak after jobs gain - REUTERS
By Fergal Smith
Summary
- Canadian dollar weakens 0.2% against the greenback
- For the week, the loonie gains 0.2%
- Price of U.S. oil settles 3.6% higher
- 10-year yield touches a seven-week high
TORONTO, Jan 10 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday as the greenback notched broad-based gains, but the loonie still notched a modest weekly advance as domestic jobs data cooled bets on a Bank of Canada rate cut this month.
The loonie was trading 0.2% lower at 1.4425 to the U.S. dollar, or 69.32 U.S. cents, after moving in a range of 1.4376 to 1.4442.
For the week, the currency was up 0.2%, after six straight weekly declines. It touched a near five-year low of 1.4467 on Dec. 19.
