Canadian dollar trades in a range of 1.3726 to 1.3762
The loonie on track to add 0.3% for the week
Canada’s economy sheds 40,800 jobs in July
Canada-US 10-year yield spread widens by 6.6 basis points
TORONTO, – The Canadian dollar steadied against its U.S. counterpart on Friday, holding on to a modest weekly gain, after softer-than-expected domestic jobs data that had only limited impact on expectations for Bank of Canada interest rate cuts.
The loonie was trading nearly unchanged at 1.3745 per U.S. dollar, or 72.75 U.S. cents, after moving in a range of 1.3726 to 1.3762. For the week, the currency was up 0.3%. The Canadian economy shed 40,800 jobs in July, giving back some of the substantial gains seen in the prior month and sending the share of people employed in the population to an eight-month low. Economists expected a gain of 13,500 jobs.
“We are still weeks away from the next meeting with more key data in between,…
