By Commodity News Service Canada
WINNIPEG, April 6 – The Canadian dollar moved higher relative to the US dollar on Monday, with strength in crude oil providing some support, analysts said.
At 8:46 CST Monday, the Canadian dollar was at US$0.8020 or US$=C$1.2469, which compares with Thursday’s North American close of US$0.7959 or US$1=C$1.2564. Markets were closed for Good Friday on April 3.
The Canadian currency was also underpinned by disappointing US labour data, released on Friday. The US government said 126,000 new jobs were created in March, the lowest in the last year.
Strength in other commodity prices, including gold, was also bullish for the Canadian dollar.
Though, ongoing worries about slow economic growth in Canada tempered the upside.
The TSX was down 10.13 points, or 0.07%, at 8:46 CST Monday morning to sit at 15,016.49.
