Dollar dips as U.S. jobs rate misses forecast
Economists had looked for the economy to add 225,000 jobs with unemployment rates holding steady
TORONTO—The Canadian dollar was lower Friday amid U.S. employment data that slightly missed expectations.
The loonie was down 0.09 of a cent to 91.62 cents US, as the U.S. Labor Department said the American economy added 209,000 jobs last month while the unemployment rate ticked up 0.1 of a point to 6.2 per cent.
Economists had looked for the economy to add 225,000 jobs with unemployment rates holding steady.
U.S. Job growth figures for May and June were revised upward.
Canadian employment data for July will be released Aug. 8.
Traders also looked ahead to the release of the latest reading on the health of the American manufacturing sector. Economists expected the Institute for Supply Management’s index to hit a six month high of 56.