CANADA FX-Robust job gains fuel Canadian dollar rebound

Fri Jun 5, 2015 5:11pm EDT
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(New throughout, updates prices and market activity to close, adds details, CIBC comment)

* Canadian dollar at C$1.2439 or 80.39 U.S. cents

* Bond prices mostly lower across the maturity curve

By Solarina Ho

TORONTO, June 5 (Reuters) - The Canadian dollar rebounded on Friday despite a greenback rally on U.S. employment data, as jobs growth in Canada had its biggest jump in seven months and crude prices saw a late-day surge.

Canadian employers added 58,900 jobs in May, far above the 10,000 jobs economists polled by Reuters had expected.

Still, the report did not alter expectations that the Bank of Canada will likely keep interest rates on hold, economists said.

The Canadian numbers helped the loonie outperform all its currency counterparts. South of the border, U.S. numbers sent the greenback jumping more than 1 percent at one point against a basket of currencies.

"In USD/CAD terms, those gains were stabilized by the even more impressive Canadian numbers we got today," said Bipan Rai, director of foreign exchange strategy, CIBC World Markets.   Continued...