By Commodity News Service Canada
WINNIPEG, May 2 – The Canadian dollar eased against the US dollar on Friday, undermined by better than expected US jobs data, analysts said.
US government data showed that 288,000 new jobs were created during the month of April, beating expectations of 200,000 to 215,000 new US jobs.
However, spillover support from the sharp gains seen in gold prices, and the firmer tone in crude oil and copper, limited the downside.
The Canadian dollar closed at US$0.9107 or US$1=C$1.0980 on Friday, which compares with Thursday’s North American settlement of US$0.9123 or US$1=C$1.0961.
Canadian bonds moved higher, as renewed concerns about political problems in Ukraine and investors buying safe haven assets, brokers said.
The two-year bond yielded 1.066% late Friday, from 1.069% late Thursday. The 10-year bond yielded 2.363%, from 2.368%. Bond yields fall as their prices rise.
