Canadian stocks consolidated in positive territory at the end of
the day after being lower for most of the first half of the session
as it battled headwinds in the Energy sector with crude
tumbling and closing lower for the 11th time out of the last 12
Most sectors were higher, led by Miners and Health Care.
Friday's weaker than expected jobs number did little to help buoy
the broader market and the Financials sector joined the Energy one
Canada employment fell 9.4k in June, contrary to expectations
for an increase following the 25.8k gain in May.
Full time jobs rose 33.5k in June after the 29.1k drop. Part
time jobs plunged 43.0k in June after the 54.9k surge that drove
total employment growth in May. Total private employment edged 2.4k
higher in June while public employment fell 11.9k.
NYMEX crude fell to $100.62, down $2.31/bbl , tripping stops at
$101.50 and again at 101.00. This is the lowest level since May 19.
Liquidation of long positions continues, as geopolitical concerns
appear to subside. Medium term trend line support that has held
steady during the course of 2014 is seen near $100.50.
The Canadian dollar also lost ground on Friday, as the USD/CAD
surged nearly a big figure to 1.0735, as the weaker than expected
jobs number drove bonds higher eroding the value of the Loonie.
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