CANADA STOCKS-TSX may open higher on better US job data

Fri Nov 5, 2010 9:05am EDT
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Nov 5 (Reuters) - Toronto's main stock index looked set to open higher on Friday after payroll data from the United States, Canada's biggest trading partner, came in much better than expected, negating a soft Canadian job report.


* Canadian equity futures <0#SXF:> pointed to a higher open.

* The Canadian dollar hit a session high against its U.S. counterpart shortly after data showed U.S. payrolls surged in October, reversing losses suffered by the currency after unexpectedly soft domestic jobs data. [CAD/]

* U.S. stock index futures turned positive on Friday after data showed U.S. non-farm and private payrolls rose significantly more than expected in October. [.N]


* The Thomson Reuters-Jefferies CRB index .CRB, a global commodities benchmark, rose 0.22 percent in early trade.

* Oil eased from a two-year high, but losses were limited by the new round of U.S. economic stimulus, which has boosted the appeal of commodities as an asset class in an environment of a weak dollar. [O/R]

* Gold hit a fresh record around $1,394 an ounce, before turning lower as the dollar firmed and the U.S. Federal Reserve's decision to buy more government bonds earlier this week improved risk sentiment. [GOL/]   Continued...