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Old 06-07-2013, 01:49 PM
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Default Canadian Dollar Gains Against U.S. Peer Before Employment Data

By Joseph Ciolli - Jun 7, 2013 8:16 AM ET
The Canadian dollar gained versus its U.S. counterpart before data forecast to show that Canada added jobs in May for a second month.
Payrolls (CANLNETJ) grew by 15,000 after a 12,500 increase the previous month, according to the median of 25 forecasts in a survey by Bloomberg. Employment in the U.S. grew by 163,000 workers after increasing by 165,000 in April, according to another survey. The Canadian currency advanced the most in almost a year yesterday as Bank of Canada Governor Stephen Poloz, in his first public comments, reiterated his predecessorís view that rates will rise as the economy grows.
The loonie, as the Canadian dollar is known for the image of the aquatic bird on the C$1 coin, rose 0.3 percent to C$1.0235 per U.S. dollar at 8:14 a.m. in Toronto after touching C$1.0234. One loonie buys 97.70 U.S. cents.
Crude-oil futures rose 0.5 percent to $95.22 a barrel inNew York and the Standard & Poorís GSCI index of 24 commodities gained 0.4 percent.
Canadaís benchmark 10-year government bond yields rose, with yields falling two basis points, or 0.02 percentage point, to 2.02 percent. The 1.5 percent security maturing in June 2023 traded at C$95.34.
To contact the reporter on this story: Joseph Ciolli in New York at jciolli@bloomberg.net
To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net
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