CANADA FX DEBT-C$ loses ground, bonds mixed after jobs data

Fri Jun 5, 2009 10:38am EDT
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* C$ at 89.69 U.S. cents

* Bonds mixed on see-sawing stocks, jobs data

* Canada sheds 41,800 jobs, jobless rate rises to 8.4 pct

* U.S. nonfarm payrolls fall 345,000, jobless rate up (Adds details)

By Ka Yan Ng

TORONTO, June 5 (Reuters) - The Canadian dollar was weaker against the U.S. currency on Friday morning after Canadian and U.S. jobs figures painted a mixed picture of the progress of two economies as they try to emerge from recession.

Canada lost more jobs than expected in May, while the U.S. data showed the most definitive evidence yet that that economy's severe weakness was diminishing.

Canada shed about 42,000 jobs in May and the unemployment rate surged to an 11-year high at 8.4 percent from 8.0 percent in April. [ID:nN05253705]. In the United States, employers cut 345,000 jobs last month, the fewest since September and far fewer than forecast, spurring gains in the U.S. dollar. The U.S. unemployment rate, however, raced to 9.4 percent from 8.9 percent in April. [ID:nN05274048]

At 10:10 a.m. (1410 GMT), the Canadian unit was at C$1.1149 to the U.S. dollar, or 89.69 U.S. cents, down sharply from C$1.0968 to the U.S. dollar, or 91.17 U.S. cents, at Thursday's close.   Continued...