The Canadian dollar weakened against its U.S. counterpart on Friday as investors weighed subdued \u2060domestic jobs \u200bdata and awaited peace talks between the United States and Iran, but the currency held on to much of its weekly gain. Canada\u2019s economy added 14,100 jobs in March, roughly matching expectations, after \u200bshedding 83,900 in the prior month, \u200cwhile the unemployment rate held steady at 6.7%.<\/p>\n
\u201cLackluster domestic growth momentum at the start of the year plus trade uncertainty continue to hamper the CAD,\u201d Shaun Osborne and Eric Theoret, strategists at Scotiabank, said in a note.<\/p>\n
\u201cBut we \u200cdo expect \u200bgrowth to pick \u200cup and trade headwinds to fade late this year, which supports \u200bour call for some CAD gains in the \u2060medium term.\u201d<\/p>\n
The United States-Mexico-Canada Agreement, which has shielded much of \u2060Canada\u2019s exports from U.S. tariffs, is set for review by a July \u200b1 deadline.<\/p>\n
Investors were pricing in 33 basis points of tightening this year from the Bank of Canada, little changed from before the data.<\/p>\n
The Canadian dollar was trading 0.1% lower at 1.3834 per U.S. dollar, or 72.29 U.S. cents, after \u2060moving in a range of 1.3800 to 1.3840.<\/p>\n
For the week, the currency was up 0.8%, as a ceasefire deal in the Middle East reduced safe-haven demand for the greenback. It was the biggest weekly gain for the loonie since January.<\/p>\n
Iran said that blocked \u2060Iranian assets must be released and that a \u200bceasefire must take hold in Lebanon before peace talks can proceed, \u2060throwing last-minute doubt over negotiations scheduled for Saturday in Pakistan. The price of oil, one of \u200cCanada\u2019s major exports, rose 0.9% to $98.75 a barrel on concerns over Saudi \u200bArabia supply disruptions and limited flows through the Strait of Hormuz, but was still on track for its biggest weekly fall since June.<\/p>\n
Canadian bond yields were mixed across a \u200bsteeper curve, with the 10-year up 2.2 basis points at 3.474%.<\/p>\n","protected":false},"excerpt":{"rendered":"The Canadian dollar weakened against its U.S. counterpart on Friday as investors weighed subdued \u2060domestic jobs \u200bdata and…\n","protected":false},"author":2,"featured_media":295163,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[901,888,902,879,877,903,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,44,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":{"0":"post-595375","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-alberta","9":"tag-arts-news","10":"tag-bc","11":"tag-breaking-news","12":"tag-breaking-news-video","13":"tag-british-columbia","14":"tag-ca","15":"tag-canada","16":"tag-canada-news","17":"tag-canada-sports","18":"tag-canada-sports-news","19":"tag-canada-trafficcanada-weather","20":"tag-canadian-breaking-news","21":"tag-canadian-news","22":"tag-economy","23":"tag-education","24":"tag-environment","25":"tag-federal-government","26":"tag-foreign-news","27":"tag-globe-and-mail","28":"tag-globe-and-mail-breaking-news","29":"tag-globe-and-mail-canada-news","30":"tag-government","31":"tag-life-news","32":"tag-lifestyle","33":"tag-local-news","34":"tag-manitoba","35":"tag-national-news","36":"tag-new-brunswick","37":"tag-newfoundland-and-labrador","38":"tag-news","39":"tag-northwest-territories","40":"tag-nova-scotia","41":"tag-nunavut","42":"tag-ontario","43":"tag-pei","44":"tag-photos","45":"tag-political-news","46":"tag-political-opinion","47":"tag-politics","48":"tag-politics-news","49":"tag-quebec","50":"tag-sports-news","51":"tag-technology","52":"tag-travel","53":"tag-trudeau","54":"tag-us-news","55":"tag-world-news","56":"tag-yukon"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/595375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=595375"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/595375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/295163"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=595375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=595375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=595375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}