Investing.com - The Canadian dollar strengthened against the greenback on Friday, bolstered by better-than-expected unemployment figures in the U.S. as well as healthy trade data back home in Canada.
In U.S. afternoon trading on Friday, USD/CAD hit 0.9900, down 0.02% and up from a low of 0.9873 and off a high of 0.9936.
The pair sought to test support at 0.9873, the earlier low, and resistance at 1.0025, Wednesday's high.
The greenback was higher than most other global currencies thanks to jobs numbers.
Earlier Friday, the Bureau of Labor Statistics reported the U.S. economy added a net 227,000 nonfarm payrolls in February, outpacing expectations for a gain of 215,000.
Meanwhile, the government revised January's figures upwards to 284,000 from 243,000.
The numbers put to rest expectations that the Federal Reserve was ready to roll out stimulus measures to juice the economy, which would have weakened the U.S. dollar.
Canadian dollar strengthened against the greenback, however, since the U.S. is a major trading partner, and a more robust economy to the south means more commerce between the two countries.
Furthermore, Canada's trade surplus narrowed to CAD2.1 billion in January from CAD2.9 billion in December.
The Canadian dollar, meanwhile, was up against the euro and up against the yen, with EUR/CAD down 1.22% at 1.2985 and CAD/JPY up 1.10% at 83.28.
On Monday, the U.S. will release its federal budget balance.
In U.S. afternoon trading on Friday, USD/CAD hit 0.9900, down 0.02% and up from a low of 0.9873 and off a high of 0.9936.
The pair sought to test support at 0.9873, the earlier low, and resistance at 1.0025, Wednesday's high.
The greenback was higher than most other global currencies thanks to jobs numbers.
Earlier Friday, the Bureau of Labor Statistics reported the U.S. economy added a net 227,000 nonfarm payrolls in February, outpacing expectations for a gain of 215,000.
Meanwhile, the government revised January's figures upwards to 284,000 from 243,000.
The numbers put to rest expectations that the Federal Reserve was ready to roll out stimulus measures to juice the economy, which would have weakened the U.S. dollar.
Canadian dollar strengthened against the greenback, however, since the U.S. is a major trading partner, and a more robust economy to the south means more commerce between the two countries.
Furthermore, Canada's trade surplus narrowed to CAD2.1 billion in January from CAD2.9 billion in December.
The Canadian dollar, meanwhile, was up against the euro and up against the yen, with EUR/CAD down 1.22% at 1.2985 and CAD/JPY up 1.10% at 83.28.
On Monday, the U.S. will release its federal budget balance.