By Commodity News Service Canada
WINNIPEG, March 10 – The Canadian dollar advanced against its US counterpart on Friday, buoyed by a recovery in the crude oil market.
Crude futures advanced on Friday, underpinned by market consolidation after dropping to fresh lows earlier in the week, which was bullish for the commodity-linked loonie.
Strong domestic data added to the Canadian dollar’s gains.
Canada added more jobs than expected in February, Statistics Canada data said on Friday. The Canadian economy added 15,300 jobs last month.
At 8:45 CST Friday, the Canadian dollar was at US$0.7443 or US$=C$1.3435, which compares with Thursday’s North American close of US$0.7400 or US$1=C$1.3513.
The TSX was up 42.42 points at 8:45 CST Friday morning to sit at 15,539.26.
