The loonie faded 0.29 of a cent to
Economists had expected another big month of job creation following May's 25,800 gain, but June resumed what has become a year-long trend of weak demand for workers. They had forecasted the agency would report that about 24,000 jobs were created.
These latest jobs figures will no doubt be front and centre of the Bank of
The Canadian dollar has been hovering around the
"Today's disappointing results will give the Bank of
"All told, fixed income should see a bid, and the loonie should give up some of its recent strength."
The currency will also be looking for direction from the release of the latest inflation figures due next Friday.
It also continues to look for hints that the fundamentals, including oil prices, are supporting its price. Oil rose for the first time in two weeks on Thursday, but pulled back from gains with the August crude contract on the
Oil prices shot up in the last month to a 10-month high over concerns that strife in
Ministry spokesman Assem Jihad says the Kurdish forces known as peshmerga seized the Bai Hassan and
Meanwhile, the prospect of a sudden return of Libyan oil to the global market has also lessened global supply worries. Libyan exports have been all but cut off over the last several months because of labour and political strife that has shut ports and disrupted production. Agreements with local militias are now expected to open two ports, and a major field restarted production Tuesday.
In other commodities, gold prices also dropped, with August gold bullion falling
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