Canadian dollar firms with oil, adding to gains after jobs boost GlobeInvestor
The Canadian dollar edged higher against its U.S. counterpart on Monday as oil prices rose, with the currency adding to its advance after domestic data on Friday showed a bumper jobs gain in February.
Friday’s employment data revealed the third month of outsized job gains in the last four and, for the first time since 2012, total Canadian job gains beat U.S. employment growth.Chances of a Bank of Canada interest rate cut this year steadied on Monday at less than 20 per cent, the overnight index swaps market indicated. Before the jobs data, they were nearly 40 per cent due to a more dovish tone last week from the Bank of Canada.
The currency, which on Thursday touched its weakest intraday level in more than two months at 1.3467, traded in a range of 1.3404 to 1.3440.
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